Wells Fargo Broker George Cairnes Suspended by FINRA Over Undisclosed Real Estate Dealings

The Financial Industry Regulatory Authority (FINRA) has suspended George Cairnes (CRD #4068906), a former Wells Fargo broker based in Houston, Texas, for engaging in an undisclosed outside business activity involving real estate transactions with a firm client.

According to FINRA’s disciplinary findings, Cairnes allegedly partnered with a Wells Fargo customer to identify, purchase, manage, and sell real estate—even going as far as forming an LLC to facilitate the activity—without first notifying or obtaining approval from his firm.

To resolve the allegations, Cairnes agreed to a four-month suspension from the securities industry and a $2,500 fine, without admitting or denying the findings.

Customer Complaints and Termination

FINRA records show that Cairnes was registered with Wells Fargo from April 2009 until July 2023. During that time, he was the subject of multiple customer complaints, including an April 2023 case alleging that a client opened a line of credit to loan money to Cairnes, his family, and associates—funds that were reportedly not fully repaid.

Wells Fargo discharged Cairnes in mid-2023, citing concerns related to these transactions. He has also been the subject of a separate investigation by the Texas State Securities Board.

Broker Misconduct and Supervision Failures

FINRA’s action against Cairnes highlights the risks of undisclosed outside business activities—particularly when brokers engage in personal or financial dealings with clients. Firms are required to closely supervise their representatives and investigate any potential conflicts of interest to protect investors from exploitation.

When brokers fail to disclose such activities, it can result in significant financial harm and potential violations of their fiduciary duty.

Silver Miller Investigates Broker Misconduct Nationwide

If you invested with George Cairnes or Wells Fargo and believe you suffered losses due to unauthorized or undisclosed transactions, you may have a valid claim for recovery.

Silver Miller represents investors across the United States in cases of broker fraud, conflicts of interest, and unsuitable investment advice. Our attorneys help clients recover losses through FINRA arbitration and civil litigation.

Contact Silver Miller for a free and confidential case review. We work on a contingency fee basis, meaning you pay nothing unless we recover funds on your behalf.