FINRA Sanctions & Allegations of Misconduct

FINRA fined $1,100,000 Wilson-Davis & Co., Inc. (CRD #3777) from Salt Lake City, Utah for failing to establish and maintain reasonable supervisory systems and WSPs in connection with the firm’s use of the market maker exemption, locate requirements and general compliance with Reg SHO. In addition, the firm failed to provide WSP procedures, processes, tests, or guidance that would permit evaluation by supervisors at the firm of whether the particular facts of a short sale transaction established that a sale was made in connection with a 0bonafide market-making activity.

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered losses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Wilson-Davis & Co., Inc., Byron Bert Barkley or James C. Snow Jr. , please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies, and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.