David Albert Ross — Accepting Customer Loans without Disclosure & Undisclosed Outside Business Activities
David Albert Ross Allegedly Accepted Customer Loans, Totaling $89,000, without Disclosure and also Allegedly Engaged in Two Undisclosed Outside Business Activities
David Albert Ross, beginning in 2008 and up to his termination in 2016, and during his employment with two member firms (Signator Investors, Inc. and Woodbury Financial Services, Inc.), allegedly engaged in a pattern of misconduct, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Alan Rosca and James Booker.
Investors who believe they may have lost money in activity related to David Albert Ross’s alleged acceptance of customer loans and outside business activities are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.
The Peiffer Rosca Wolf securities lawyers are currently investigating David Albert Ross’s alleged acceptance of customer loans and outside business activities.
David Albert Ross’s alleged pattern of misconduct allegedly included taking loans from firm customers, engaging in undisclosed outside business activities, and making false attestations in firm compliance questionnaires, according to the aforementioned AWC.
Ross, specifically, from 2008 until 2016, allegedly accepted five loans from four firm customers totaling $89,000 in violation of NASD and FINRA Rules and also allegedly engaged in two undisclosed outside business activities, the AWC notes.
Said allegations allegedly also included serving as board director of a firm customer in violation of NASD and F1NRA Rules, the AWC states.
David Albert Ross Suspended by FINRA
David Albert Ross, through the aforementioned alleged violations, allegedly violated NASD and FINRA Rules, according to the aforementioned AWC presently under review by attorneys Alan Rosca and James Booker.
Ross, in addition, on eight compliance questionnaires, allegedly falsely attested that he was aware of, and complied with, Signator’s and Woodbury’s policies and procedures concerning OBAs and loans. Therefore, Ross also allegedly violated NASD and FINRA Rules for this additional reason, the AWC notes.
On April 15, 2016, Woodbury reportedly filed a Uniform Termination Notice for Securities Registration with FINRA disclosing that it terminated Ross on April 15, 2016 for “failing to disclose an outside business activity, accepting loans from firm clients and other violations of firm policies and procedures”, the AWC reports.
Finally one should also note that, according to the AWC, David Albert Ross neither admitted nor denied the FINRA findings.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating David Albert Ross’s alleged acceptance of customer loans and outside business activities. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of David Albert Ross’s alleged acceptance of customer loans and outside business activities may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at email@example.com or firstname.lastname@example.org.