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Written by 8:13 pm Blog, Current Investigations

David Lee Reynolds Barred from Securities Industry

David Lee Reynolds

Recovery of Investment Losses – David Lee Reynolds

The White Law Group is investigating potential claims involving former California financial advisor David Lee Reynolds.

According to the Financial Industry Regulatory Authority, David Lee Reynolds has been permanently barred from the securities industry. On October 6, 2017, FINRA staff sent a request for documents and information, in connection with FINRA’s investigation, Reynolds has allegedly misappropriated customer funds.

An e-mail to FINRA staff on November 2, 2017 states that Reynolds will not produce the documents and information requested.

According to his BrokerCheck Report, David Lee Reynolds was registered with Allstate Financial Services in Modesto, CA from January 2016 until October 2017 when he was discharged due to “Firm’s investigation of misappropriation of prior broker-dealer customer funds while registered representative was affiliated with the prior broker-dealer.”

Reynolds was affiliated with Princor Financial Services Corp. in Modesto, CA from May 2008 until December 2015. He has three disclosure events listed on his broker report.

For FINRA’s full findings see FINRA case #2017055823701.

Investigating Potential Claims

The White Law Group is investigating the liability that Reynold’s employers may have for losses sustained by his clients.  Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules. If it is determined that the broker dealer failed to supervise their agent, they can be held responsible for losses in a FINRA arbitration claim.

FINRA operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute.

Did you suffer investment losses with David Lee Reynolds?  The attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.

The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

For more information on The White Law Group, please visit www.whitesecuritieslaw.com.



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