(888) 637-5510

Written by 8:03 pm Blog, Current Investigations, Securities Fraud Articles

CA Financial Advisor John D. Wade Barred from Securities Industry

John D. Wade

John D. Wade – US Bancorp Investments – Fullerton, CA

According to the Financial Industry Regulatory Authority (FINRA), the regulator has permanently barred John D. Wade from the securities industry for purportedly converting customer funds.

According to the Letter of Acceptance, Waiver and Consent posted on FINRA’s site today, from February 2013 through July 2017, John D. Wade allegedly converted more than $105,000 from two elderly US Bancorp Investment customers without authorization to pay his own mortgage. As a result, Wade allegedly violated FINRA Rules 2150(a) and 2010.

According to Wade’s FINRA BrokerCheck report, he was registered with US Bancorp Investments in Fullerton, CA from May 2011 until February 2018. According to FINRA, US Bancorp reported that it had discharged Wade for “Unsatisfactory job performance.” The Firm filed an amended Form U5 on May 7, 2018, reporting that it is conducting an internal review because Wade “allegedly misappropriated client funds…”

For FINRA’s full findings see FINRA case # 2018058354101.

Investigating Potential Claims

The White Law Group is investigating the liability that Wade’s employer may have for failing to properly supervising him.

Brokerage firms are required to properly supervise their advisors. They must ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that John D. Wade’s former employers failed to properly supervise him, the firm may be held responsible for the losses in a FINRA arbitration claim.

If you are concerned about your investments with John D. Wade and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.

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.

Tags: , , , , , , , , , , , , , , , , Last modified: June 5, 2018