Appealed suspension, but did not cooperate with FINRA investigation
According to the FINRA website, Dalyne L. Shinneman has been barred from the securities industries following a career riddled with disclosures and disputes.
A broker since 1989, Shinneman was most recently employed by Ridgeway & Conger, Inc., before facing suspension in July 2014. FINRA officially barred her in November 2014 after she allegedly requested termination of her suspension but failed to cooperate with further measures in the investigation.
Shinneman is no stranger to controversy in the field. In 1991, she was permitted to resign from her employment with First of American Brokerage Services, Inc., following an alleged mishandling of $25,000 in bearer bonds.
She was later employed by Stifel, Nicolaus & Co., Inc., where she was involved in eight customer disputes between 2001 and 2004, amounting to more than $5.6 million in alleged damages or losses. Six of these disputes were eventually withdrawn by the complainant or denied by the firm. Two cases, however, did move forward in the arbitration process.
In one case, a customer alleged that Shinneman made unsuitable investments, among other allegations of misconduct, amounting to $300,000. Both parties agreed to settle before the hearing, resulting in Shinneman and the firm each paying $87,500 in compensatory damages.
In the other case, a customer requested $4 million in damages resulting from an alleged mishandling of funds. The case proceeded to court, and the judgment found Shinneman and the firm liable for $1,269.
While working for Oppenheimer & Co., Inc., Shinneman faced yet another customer dispute in June 2007 over an alleged unauthorized trade with the customer claiming damages of more than $26,000. The customer settled in this case, and Shinneman and the firm each paid $9,925 toward the requested damages. Later that month, she was discharged from the firm for allegedly violating firm policy about the use of outside email.
In May 2008, Shinneman was involved in a dispute with the IRS over a previous tax filing. The following month she was in hot water yet again while employed by National Securities Corporation for alleged unauthorized transactions and excessive commissions. This case was closed without any disclosed action.
FINRA launched its official investigation into Shinneman’s alleged violations in February 2014 and placed her under suspension in July for potential violations for fraudulent sales and excessive mark-ups.
If you, like many investors, have suffered loss or damages while working with Shinneman or any financial adviser, Silver Law Group can help you navigate your options and pursue legal action. Silver Law Group is composed of experienced and skilled attorneys who are passionate about helping those who have been wronged at the hands of financial advisers to recover their losses through securities arbitration.
At Silver Law Group, you can always expect a complimentary consultation and a case handled on a contingent fee basis, in which you will not have to pay legal fees unless we win your case. Our lawyers work with investors nationwide to discover their legal rights and recover losses, and they may be able to help you too. Call us today for your free consultation.