Securities Lawyers Blog
The securities lawyers at Gana Weinstein LLP represent investors who have been mistreated by their brokers and suffered investment losses. Our firm is experienced in bringing claims against brokerage firms, such as D.A. Davidson & Co., to hold Wall Street responsible for their misconduct. When a client contacts our firm they can expect that our attorneys will have the knowledge and ability to evaluate the potential claims and analyze their trading activity for red flags of misconduct. Our consultations are designed to help provide clients with all available options.
D.A. Davidson is a full-service financial services firm providing wealth management, equity capital markets and investment banking, fixed income capital markets, asset management and trust services. Founded in 1935 by David Adams Davidson in Great Falls, Montana, where its corporate headquarters remains, the employee-owned firm has regional headquarters in Denver, Greater Los Angeles, New York, Omaha and Seattle and offices in 30 states.
D.A. Davidson & Co. – By the Numbers:
- CRD #: 199
- Regulatory Events: 41
- Arbitration Events: 7
- Broker Employees: 1,093
D.A. Davidson & Co. – Investment Advisors:
- SEC #: 45761
- Assets Under Management: $41,839,245,699
- ADV Form Employee: 990
D.A. Davidson & Co. – In the News:
FINRA v. D.A. Davidson & Co. (Case #2018060923801) – Between September 1, 2018 and January 31, 2019 (the “Review Period”), Davidson violated FINRA Rules 6730 and 2010 by failing to report to the Trade Reporting and Compliance Engine (“TRACE”) 66 transactions in TRACE-eligible Agency Debt Securities within the time required by FINRA Rule 6730(a), constituting a pattern or practice of late reporting without exceptional circumstances.
FINRA v. D.A. Davidson & Co. (Case #2017055363301) – During March through October 2016 (the “relevant period”), D.A. Davidson violated MSRB Rule G-17 by providing inaccurate or misleading statements in its issue price certificates in connection with 22 municipal offerings. The firm also violated MSRB Rule G-27 by failing to establish and maintain a supervisory system and written supervisory procedures that were reasonably designed to ensure the accuracy of the representations the firm made to issuers in its issue price certificates.
FINRA v. D.A. Davidson & Co. (Case #2016050260301) – Between January 1, 2011, and April 26, 2018 (the “Relevant Period”), Davidson disadvantaged certain retirement plan and charitable organization customers that were eligible to purchase Class A shares in certain mutual funds without a front-end sales charge (“Eligible Customers”). These Eligible Customers were instead sold Class A shares with a front-end sales charge or Class B or C shares with back-end sales charges and higher ongoing fees and expenses. During this period, Davidson failed to establish and maintain a supervisory system and procedures reasonably designed to ensure that Eligible Customers who purchased mutual fund shares received the benefit of applicable sales charge waivers. As a result, Davidson violated NASD Conduct Rule 3010 (for misconduct before December 1, 2014), FINRA Rule 3110 (for misconduct on or after December 1, 2014), and FINRA Rule 2010.
Gana Weinstein LLP has successfully handled hundreds of customer investment disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.