Securities Lawyers Blog
The law offices of Gana Weinstein LLP represents investors in investment disputes with their financial advisors or brokerage firms, such as Davenport & Company LLC. Many investors do not recognize financial advisor misconduct when it happens, but there are steps that can be taken to recover investment losses. There are many different types of broker misconduct, including breach of fiduciary duty, failure to supervise, misrepresentation, and churning. The attorneys at Gana Weinstein LLP can analyze your investments to determine if there was actionable misconduct by the broker or brokerage firm.
Davenport & Company is a broker-dealer and investment adviser that provides wealth management, brokerage, financial and retirement planning, asset management, equity research, public finance, fixed income, and corporate finance services. Founded in 1863, the employee-owned firm is headquartered in Richmond, Virginia, and operates offices throughout the mid-Atlantic region.
Davenport & Company LLC – By the Numbers:
- CRD #: 1588
- Regulatory Events: 16
- Arbitration Events: 3
- Broker Employees: 376
Davenport & Company LLC – Investment Advisors:
- SEC #: 13057
- Assets Under Management: $24,699,034,685
- ADV Form Employee: 525
Davenport & Company LLC – In the News:
FINRA v. Davenport & Company LLC (Case #2016051515201) – From February 2014 through December 2015 (the “Relevant Period”), Davenport failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures, reasonably designed to supervise representatives use of consolidated reports, in violation of NASD Rule 3010 (for conduct prior to December 1, 2014) and FINRA Rule 3110 (for conduct on or after December 1, 2014), and FINRA Rule 2010. In addition, during the Relevant Period, Davenport violated Section 15(c)(3) of the Securities and Exchange Act of 1934 and Exchange Act Rule 15c3-5, FINRA Rule 2010 and MSRB Rule G-27 by failing to establish a system of risk management controls and supervisory procedures for two alternative trading systems for municipal securities transactions.
FINRA v. Davenport & Company LLC (Case #2016049965401) – In connection with this matter 20160499654, the Order Audit Trail System (“OATS”) Compliance Staff of the Department of Market Regulation reviewed the firm’s compliance with OATS reporting and related supervisory requirements during the period of February 1, 2016, through April 30, 2016 (the “review period”). During the review period, the firm failed to report ROEs and failed to comply with related supervisory requirements. As a result, the firm violated FINRA Rules 7450, 3110, and 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.