David Shane Simmons Investigation
April 2023-Jefferson, NC
According to publicly available records David Shane Simmons, a former broker who last worked for Lincoln Financial Securities Corporation , discloses a final regulatory matter resulting in a permanent bar from the industry.
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 3/2023 FINRA permanently barred Simmons from the industry to resolve allegations that he refused to produce documents and information and failed to appear for an on-the-record testimony requested by FINRA in connection with its investigation into allegations referenced in the Uniform Termination Notice for Securities Industry Registration filed by his member firm. The findings stated that Simmons firm disclosed that he was discharged he, through counsel, informed the firm that he would not provide a response to the firm’s inquiries in connection with their internal investigation.
Simmons was with Lincoln Financial Securities Corporation from 9/2011 to 3/2023.
If you have questions about an account handled by David Shane Simmons, contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
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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