Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, has opened an active investigation into Craigg McRae (CRD# 4697209), a financial advisor formerly with Wells Fargo and now registered with International Assets Investment Management in Elma, New York. As former Wall Street defense attorneys, we understand how industry practices can impact investors’ hard-earned assets. Our focus on the facts, combined with nearly a century of combined securities law experience and a 98% success rate in investor recoveries, drives our commitment to help investors recover losses and hold advisors accountable.
Below is a comprehensive analysis of recent regulatory sanctions, red flags, and a review of available complaints, if any, regarding Craigg McRae. If you believe you may have suffered losses due to questionable or unauthorized activity in your accounts, contact us at 1-888-885-7162 for a free, confidential consultation. There is no fee unless we recover funds for you.
Cascade of Regulatory Action: FINRA Suspension of Craigg McRae
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In June 2026, the Financial Industry Regulatory Authority (FINRA) issued a disciplinary action against Craigg McRae, previously a registered representative with Wells Fargo. According to the official Letter of Acceptance, Waiver, and Consent (AWC No. 2024083542701), Mr. McRae exercised discretion in six separate customer accounts without obtaining written authorization from the customers or the firm. Even if the customers verbally permitted the trades, FINRA rules require both written client authorization and formal firm acceptance before discretionary trading may occur in customer accounts.
Specifically, the violation involved FINRA Rule 3260(b), which prohibits exercising discretionary power in a customer’s account without prior written customer authorization and firm acceptance of the account as discretionary. Mr. McRae’s conduct went beyond permissible time-and-price discretion and included selecting the securities and quantities to buy or sell, which required specific approvals. FINRA also found that he falsely attested in a firm compliance questionnaire that he had not used discretion in customer accounts, increasing the seriousness of the matter. As a result, FINRA imposed a 15-day suspension and a $5,000 fine on Mr. McRae.
Key Takeaways from Regulatory Findings
- Unauthorized Discretionary Trading: He used discretion to select securities and amounts in client accounts without written authorization or Wells Fargo’s acceptance of the accounts as discretionary.
- False Compliance Attestation: He indicated in a compliance questionnaire that he had not engaged in discretionary trading, despite evidence to the contrary.
- Rule Violations: FINRA found violations of Rule 3260(b) and Rule 2010, which requires high standards of commercial honor and equitable principles of trade.
- Disciplinary Outcome: 15-day suspension and a $5,000 fine.
- Wells Fargo Termination (2024): He was discharged following allegations including discretion in client accounts and mismarked trade confirmations.
No Public Customer Complaints, But Significant Red Flags
Our attorneys reviewed regulatory databases and litigation sources to assess Mr. McRae’s publicly available investor-facing history.
| Database | Findings on Complaints and Actions |
|---|---|
| FINRA BrokerCheck | No public customer complaints were disclosed. The record reflects the current disciplinary matter and the 2024 employment termination disclosure. |
| SEC EDGAR / Enforcement | No SEC orders or enforcement actions were identified naming Craigg McRae. |
| PACER Federal Dockets | No federal civil or criminal complaints were identified against him. |
| State Court Records | No investor-related litigation was identified in major jurisdictions reviewed. |
| News and Web Search | No media coverage, investor alerts, or published allegations by individual investors were identified. |
For investors, this means that although no customers appear to have filed public complaints or lawsuits based on currently available records, there is still documented disciplinary action involving conduct that violated firm policy and industry rules. The absence of public complaints should not be viewed as proof that no investor harm occurred, particularly in light of FINRA’s findings.
Craigg McRae’s Background: Experience and Registrations
- Approximately 22 years in the securities industry since 2003
- Prior and Current Industry Roles:
- Wells Fargo (2014–2024): Registered representative
- Edward Jones (2003–2014): Previous registered role
- International Assets Investment Management (since January 2025): Currently registered as an investment adviser representative in New York
- Completed the SIE, Series 7, Series 24, Series 65, and Series 66 examinations
Although Mr. McRae has substantial industry experience, the regulatory record now reflects a significant compliance issue that may be important to anyone who entrusted funds to him.
Why These Violations Matter for Investors
- Unauthorized discretion can create hidden risks because advisors may place trades or implement strategies that clients never formally approved.
- False statements in compliance documents undermine the trust that clients and firms place in financial professionals.
- Regulatory violations can be warning signs that justify a prompt review of account activity and possible recovery options.
At our firm, we apply insider knowledge gained as former Wall Street defense counsel and use a focused, data-driven approach in every investigation. Our securities law attorneys have more than 95 years of combined experience, are AV Preeminent-rated, hold the Super Lawyers designation, and have handled investor claims involving more than $520 million in securities matters. We also maintain a No Recovery, No Fee commitment.
What Should You Do If You Suffered Losses While Working with Craigg McRae?
- Preserve records of account statements, trade confirmations, emails, text messages, and any instructions you gave regarding trading authority.
- Review your account activity for trades you did not authorize in writing or transactions that do not match your objectives or risk tolerance.
- Act promptly because delay can affect your legal rights and ability to pursue recovery.
Our investigation is ongoing. If you are a current or former client of Craigg McRae, including during his time at Wells Fargo or International Assets Investment Management in Elma, New York, and you suspect unauthorized trading or other investment-related misconduct, call us at 1-888-885-7162 for a free consultation. We are prepared to evaluate your potential claim and fight for the recovery of your investment losses.
