Did David Leroy Johnson Cause You Investment Losses?
David Leroy Johnson of Houston, Texas has been fined $5,000 and suspended from association with any FINRA member for a period of three months for allegedly falsifying documents in violation of FINRA Rules 4511 and 2010. Without admitting or denying the allegations, Johnson consented to the sanctions. The suspension was in effect from September 21, 2020, through December 20, 2020.
In October 2015, David Leroy Johnson joined LPL Financial and registered as a General Securities Representative. LPL Financial later discharged Johnson for violating certain company policy. According to the FINRA findings, Johnson allegedly reused customer signatures from older forms on eight separate occasions and submitted them as originals for processing. The findings stated that two of the documents were required to be kept by Exchange Act Rule 17a-3 and by falsifying the signatures, Johnson caused his firm to mismark their books and records. Although Johnson is no longer associated with any FINRA member, he remains subject to FINRA’s jurisdiction.
FINRA Rule 4511 requires each member to make and preserve books and records in conformity with Section 17(a) of the Exchange Act and Rule 17a-3 promulgated thereunder. Inherent in this requirement is the requirement that the books and records the firm makes are accurate. When an associated person falsifies a firm’s books and records, he or she violates FINRA Rule 4511. A violation of FINRA Rule 4511 is also a violation of FINRA Rule 2010.
Do You Need a Texas FINRA Securities Arbitration Attorney?
Are you a Houston, Texas investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Texas stockbroker or investment advisor forge your signature or alter information on account opening documents about your investment objectives, risk tolerance, or financial condition to make unsuitable recommendations or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly rated, and nationally recognized FINRA arbitration securities forgery law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration forgery cases and other complex legal issues.
Free Initial Consultation With Experienced Securities Account Forgery Lawyers Serving Houston, Texas Residents In FINRA Arbitrations
At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities, and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Texas, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award.
Se habla español
For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities, and investment law disputes serving Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.