Securities Arbitration Lawyers BlogFINRA Bars David Levy From Practicing as a Financial Advisor
Disciplinary history involves alleged churning and misrepresentation
David Levy was barred by FINRA from acting as a broker in any capacity on June 26. This bar was a direct result of his alleged failure to respond to a FINRA request for information, according to FINRA, but it follows a career marred by allegations of unauthorized trading and breaches of fiduciary duty.
In July 2014, Levy was named in a FINRA complaint alleging that he was involved in churning, or the excessive buying and selling of securities with the intent to generate commission for the broker without benefiting the investor, according to FINRA’s Broker Check.