David Apted – Private Securities Transactions

David Apted Allegedly Engaged in Private Securities Transactions with Two Customers who Invested over $300,000 in a Venture-capital Fund

David Apted allegedly engaged in private securities transactions with two customers who invested over $300,000 in a certain venture-capital fund, 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 Apted‘s alleged engagement in private securities transactions 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 Apted‘s alleged engaged in private securities transactions.

Apted also allegedly shared non-public information about 39 customer to a broker-dealer that he planned to join, and also allegedly sent more than 150 tweets regarding securities without his firm approval, the AWC notes.

David Apted Suspended and Fined $10,000 by FINRA

David Apted, based on the aforementioned behavior, allegedly violated FINRA Rules and therefore allegedly violated FINRA Rules, according to the aforementioned AWC currently being reviewed by attorneys Alan Rosca and James Booker.

The story begins in December of 2015, when Apted reportedly decided to move from Smith, Moore to Forest Securities in mid-January 2016, but, due to various delays, allegedly made repeated postponements of the date of his move, and eventually joined Forest Securities two months later than he originally anticipated, the AWC notes.

In the meantime two people expressed interest to Apted in investing in a certain venture-capital fund, and, even though Smith, Moore allegedly offered that fund, Apted allegedly referred the investors to Forest Securities for the purpose of investing in the fund, the AWC notes.

Apted then allegedly participated in the investors’ dealings with the fund, explaining its structure and costs, advising the investors about its portfolio, helping to prepare their subscription agreements, arranging and attending a meeting between one investor and the fund’s representatives, and handling a wire transfer for the other investor’s investment, the AWC states.

Between early January and mid-February 2016, said investors allegedly collectively invested more than $300,000 in the fund and Apted allegedly did not notify Smith, Moore about those transactions or his role in them, the AWC reports.

FINRA Rules prohibits associated persons from participating in any manner in a private securities transaction without first notifying their firms in writing about the transaction, their role in it, and whether they will or may receive selling compensation, the AWC notes.

Finally, one should also note that, according to the AWC, David Apted 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 Apted‘s alleged engagement in private securities transactions. 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 Apted‘s alleged engagement in private securities transactions 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 arosca@prwlegal.com or jbooker@prwlegal.com.

Alan Rosca (1225 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.