David Taylor Fined and Suspended for Allegedly Conducting Outside Business Activities and Private Securities Transactions
David Ray Taylor, formerly associated with Farmers Financial Solutions, LLC, was fined and suspended by the Financial Industry Regulatory Authority (“FINRA”) for allegedly engaging in outside business activities and private securities transactions.
The Peiffer Rosca securities practice attorneys Alan Rosca and Joe Peiffer are investigating the matter.
David Taylor Allegedly Involved in Outside Business Activities
Taylor and a business partner formed Interactive Performance Solutions LLC (“IPS”) in March 2011 in order to develop sales-tracking software that they hoped to later sell to insurance agents, according to FINRA. Taylor served as IPS’s president since its formation, and in October 2011, he began receiving compensation from IPS in the form of expense reimbursements, according to FINRA. In January 2012, Taylor began receiving a salary from IPS, according to FINRA.
David Taylor Accused of Conducting Private Securities Transactions
Taylor sold securities totaling $395,000 to six investors between September 1, 2011 and July 30, 2012, according to FINRA. The securities consisted of IPS membership units, and these transactions occurred outside the regular course and scope of Taylor’s employment with Farmers Financial Solutions, according to FINRA.
Taylor consented to being fined $10,000 and suspended from the securities industry for six months by FINRA.
Investment Fraud Lawyers Investigating
The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: David Ray Taylor
Status: INVESTIGATED by Peiffer Rosca.
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