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Craig Norton

Senior Equity Trader at Wilson Davis and Company

Craig Norton was a Senior Equity Trader at Wilson-Davis & Co., Inc., based in Colorado.4 He had a long career in the securities industry, spanning nearly 50 years and working with 10 member firms.1 However, Norton's career ended in controversy due to allegations of market manipulation.

In July 2019, FINRA initiated a complaint against Norton, alleging that he and Wilson-Davis manipulated the market for a low-priced, thinly traded, OTC microcap security.1 The manipulation allegedly began when Norton purchased 250 shares of the company stock at $5.00 per share into the firm's proprietary account, artificially setting the closing price.1

This action reportedly triggered an escape clause in a "Lock-Up/Leak-Out" agreement, allowing Norton's customers to liquidate their company stock at artificially inflated prices.1 As a result of the manipulative trading, firm customers sold around $13.2 million shares of the company, generating about $8.5 million in net trading proceeds.1

On February 4, 2022, Wilson-Davis & Co., Inc. discharged Norton for willfully engaging in manipulative activity.13 Subsequently, FINRA barred Norton from practicing as a broker with any FINRA member firm in any capacity and imposed fines and penalties totaling over $250,000.3

It's important to note that this Craig Norton should not be confused with others sharing the same name, such as the Craig Norton who is President CEO at Beyond The Known International2 or the Craig Norton who is a Managing Director at Raymond James & Associates.5

Related Questions

What was the outcome of the FINRA case against Craig Norton?
How did Craig Norton's actions impact his clients financially?
What role did Wilson-Davis & Co. play in the alleged market manipulation?
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What are the main activities of Beyond The Known International?
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Location

Englewood, Colorado, United States