Category Archives: Bishop Rosen & Co

David L. Sheppard-Former Aegis Capital Broker-Charged With Churning by FINRA-Barred

Melville, New York

UPDATE MAY 2017-In April 2017, Sheppard was permanently barred from the securities industry by FINRA to resolve allegations that he refused to appear for on the record testimony in connection with an investigation into potential excessive trading and churning in customer accounts.

ORIGINAL POST–July 2016-

The FINRA records of David L. Sheppard ,  a  stock broker currently employed  by Meyers Associates , disclose a pending customer dispute, a prior final customer dispute and 2 currently outstanding judgment/liens.

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 the currently pending dispute, received in December 2015 , a customer of Aegis Capital  alleges damages of $86,088 for unauthorized trading, unsuitable investment recommendations, unsuitable use of margin and breach of fiduciary duty.

The outstanding judgment/liens include:

  • $10,797 in favor of Discover Bank filed in Framingham Division District Court, Middlesex County, MA.
  • $11,753 in favor of Household Finance Corp, filed in Framingham Division District Court, Middlesex County, MA.

Sheppard has been employed by Meyers Associates since  12/2015. Prior to that he was employed by Aegis Capital Corp. and before that Bishop, Rosen & Co.

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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Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

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