• September 8, 2023
• Charles Schwab & Co.

Ethan Martin (CRD#: 7376480) was a previously registered broker and is now barred from acting as a broker or otherwise associating with a broker-dealer firm.

Broker’s Background

He entered the securities industry in 2021. He spent his career as a registered broker at Charles Schwab & Co., Inc.

Allegations of Misconduct

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in September 2023 FINRA barred Ethan Martin indefinitely for converting customer funds and violating FINRA Rules 2150(a), 8210 and 2010. The FINRA sanction details, “During the relevant period, Martin worked as a Brokerage Service Specialist with Charles Schwab and was responsible for answering telephone calls from customers regarding, among other things, establishing direct deposits. On May 26, 2022, a married couple, one of whom was a senior customer, contacted Martin at the firm’s customer service phone number seeking assistance with setting up a direct deposit of monthly social security payments into their joint firm brokerage account. That same day, Martin emailed the customers’ instructions for setting up a direct deposit. In the email, rather than providing the customers’ account number, Martin provided the account number for his own personal Charles Schwab brokerage account. Between June and September 2022, Martin received three electronic deposits of the customers’ monthly social security payments, totaling $6,981, into his personal firm brokerage account. Martin then converted and improperly used the customers’ funds for his own personal investments and expenditures. Therefore, Martin violated FINRA Rules 2150(a) and 2010.”

Additionally, “On June 30, 2023, in connection with this investigation, FINRA sent Martin a request for information and documents pursuant to FINRA Rule 8210, which Martin has acknowledged receiving. The deadline for responding was July 14, 2023. Martin did not respond to FINRA’s request. On July 14, 2023, FINRA sent Martin a second request, pursuant to FINRA Rule 8210, for the previously requested information and documents, with a deadline of July 21, 2023, which Martin has acknowledged receiving. Martin did not respond to FINRA’s request by the July 21st deadline or at any other time. Therefore, Martin violated FINRA Rules 8210 and 2010.”Ethan Martin was barred indefinitely starting on September 5^th 2023.

For a copy of the FINRA Sanction, click here.

In addition, Ethan Martin has been the subject of one other disclosure, which includes the following:

• September 2022—Employment Separation After Allegations, “Employee e-emailed a screenshot of his personal account number to a client who requested direct deposit instructions.” Charles Schwab & Co., Inc., discharged Ethan Martin.

For a copy of Ethan Martin’s FINRA BrokerCheck, click here.

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