Written by The White Law Group• November 25, 2019• 5:17 pm• Blog, Current Investigations

David Q. Kendrick Broker Investigation

Financial Advisor David Q. Kendrick, NYLife Securities in Shreveport, LA

Are you concerned about investments with David Q. Kendrick in Shreveport, LA? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to the Financial Industry Regulatory Authority on November 21, the regulator has reportedly suspended financial advisor David Q. Kendrick for 18 months after allegations that he purportedly engaged in an outside business activity, as an officer, member and manager of an investment club, without providing prior written notice to NYLife. FINRA also purportedly fined Kendrick $30,000.

FINRA’s findings state that from June 2010 through May 2018, Kendrick also allegedly participated in nine private securities transactions, without providing prior written notice of, or receiving written approval for these transactions from NYLife.

According to his FINRA BrokerCheck report, Kendrick was reportedly affiliated with NYLife Securities in Shreveport, LA from 2002 until 2018 when he was reportedly permitted to resign for the above allegations. His broker report indicates Kendrick’s other business activities and employers include Summit Group LLC, and Summit Group Interests, LLC and Eagle Strategies LLC, among others.

Investigating Potential Lawsuits

The White Law Group is investigating potential lawsuits regarding the liability that Kendrick’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as making private securities transactions or participating in outside business activities, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois. We represent investors in FINRA arbitration claims in all 50 states, including Louisiana. Our attorneys have recovered millions of dollars from many brokerage firms in the past.