Articles Tagged with Calabasas California Unsuitable Trade Recommendation Attorney

Howard Davis, of Calabasas, California, submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly making unsuitable trade recommendations. The FINRA investigation found that while Davis was a General Securities Principal (GSP) for Cabot Lodge Securities, he recommended the purchase of non-traditional exchange-traded products (NT-ETPs) without having appropriate knowledge of the dangers of these recommendations. FINRA alleged that this conduct displayed a failure of supervision and adherence to FINRA Conduct Rules 3110 and 2010. Without admitting or denying the FINRA allegations Davis agreed to the sanctions and was suspended from association with any FINRA member for two months and fined $10,000. Continue Reading

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