FINRA Sanctions & Allegations of Misconduct

According to his CRD Report, David Philip Antypas (CRD #2603488) of IFS SECURITIES (CRD #40375) in Franklin, Tennessee was suspended from association with any FINRA member in all capacities for two years. He consented to the sanction and to the entry of findings that in contravention of, and in an effort to circumvent, his member firm’s policies, he recommended that an elderly customer name his wife and subsequently his sister as sole beneficiaries on the customer’s transfer on death and variable annuity accounts. The findings stated that the firm inquired about the customer’s accounts during a branch audit and subsequently determined that Antypas had recommended that the customer name his wife and his sister as beneficiaries. After the firm communicated with the customer, she removed Antypas’ wife and sister from her beneficiary designations. Therefore, neither they nor Antypas obtained any funds from the customer’s accounts in connection with those designations. The suspension is in effect from July 1, 2019, through June 30, 2021.

David Antypas has other complaints of wrongdoing reported on his regulatory file

The CRD Reports of Dave Antypas includes the disclosure of two (2) other complaints, one of which settled for a substantial sum. These types of complaints are serious red flags that evidence a pattern of unsuitable investment recommendations in order to generate commissions and income for themselves, at the expense of their clients.

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 David Philip Antypas at IFS SECURITIES, 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.