March 2018 – San Antonio, Texas
According to publicly available records David Dorn McNally , (CRD# 839798) , a stockbroker who is employed by McNally Financial Services, disclose that he is the subject a FINRA arbitration by a customer seeking damages of a million dollars or more.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In recently filed FINRA Case 17-03274, filed in December 2017, a customer of McNally Financial Services alleges a variety of claims relating to the mishandling of their accounts, including gross negligence, fraud, fraudulent misrepresentation, and aiding and abetting fraud. The customer seeks damages of $845,000 for losses in their portfolio and $1 million of opportunity cost.
McNally is listed as the President and Chief Executive Officer of McNally Financial Services Corporation which is headquartered in San Antonio, TX. FINRA records disclose office locations in St. Petersburg, FL, Georgetown, TX and Tallahassee, FL.
FINRA records of McNally Financial disclose two prior regulatory matters. In 2013 McNally Financial was censured and fined $15,000 for deficiencies in their written supervisory procedures related to the sale of complex, non-conventional products including Steepeners.
If you have questions about an account in an account handled by David D. McNally , contact us for a no charge consultation to discuss your legal options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are 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.
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