In March 2014, the Financial Industry Regulatory Authority sanctioned Dawson James Securities, fining them $75,000 and requiring the firm to revise their Written Supervisory Procedures (WSPs).
In FINRA Case # 2008012546802 , the industry regulator found numerous portions of the written supervisory procedures to be deficient including the following areas:
- Broker’s disclosure of potential conflicts of interests to clients
- Brokers trading in opposite directions of solicited customer transactions
- Unauthorized trading
- Excessive trading
- Free riding
- Concentrations of securities in client accounts
- Wash sales
- The firm failed to investigate numerous “red flags” relating to the activities of a broker
Dawson James Securities was formed in 2002 and is headquartered in Boca Raton, FL. They also have offices in New York City, Columbia, Maryland, Santa Clara, California, and Manasquan, New Jersey.
Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
561 391 1900