Florida Broker/Dealer and Account Executive Negligent Supervision and Account Executive Financial Misappropriation, Unauthorized Loan and Elder Abuse FINRA Arbitration, Litigation and Probate Estate Attorney.
The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute an enforcement action, firms and licensed individuals have the responsibility to reflect such action on their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.
The monthly disciplinary information is referenced on the FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:
January 2014 Disciplinary and Other FINRA Actions:
Donald Richard Dahn (CRD #2172800, Registered Representative, Palm City, Florida) submitted a Letter of Acceptance, Wavier and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Dahn consented to the described sanction and to the entry of findings that he borrowed a total of $27,100 from public customers without the ability to repay the loans that had been represented to be used for operating expenses for a company Dahn ran with his brother. The findings stated that Dahn failed to disclose the loans to his members firms. The firms' WSPs prohibited borrowing money from customers. Dahn has failed to repay either of the loans, one of which required payment within 90 days. Dahn misappropriated the funds by failing to repay either loan, and by borrowing customer funds without the ability to repay the loans. FINRA Case No. 2013036768101
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