San Antonio, Texas
AUGUST 2017 UPDATE– In February 2017 to resolve allegations that he willfully failed to timely amend his FINRA disclosure to disclose that he had been charge with a misdemeanor charge of wrongful taking of property, David Mansour was permanently barred by FINRA.
ORIGINAL POST-July 2016- The FINRA records of David M. Mansour , a stock broker who most recently worked for Frost Brokerage Services , disclose a currently pending regulatory matter, a prior final customer dispute and a termination from employment.
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 a currently pending FINRA Case # 2014041526002, FINRA alleges that Mansour willfully failed to timely amend his FINRA record to disclose a material fact that he had been charged with a misdemeanor charge of wrongfully taking of property. Mansour, without the authority to do so and without advising the bank agreed on behalf of the bank to become the successor trustee of a trust and in that capacity executed a warranty deed and other documents. Mansour falsely represented that he was an assistant vice president and trust officer of the bank.
In June 2014, Mansour was discharged by Frost Brokerage Services, who made the following allegation: :”registered representative violated FINRA bylaws and FINRA Rule 2010 by failing to notify the firm of a U4 disclosure event”.
In November 2014, a customer dispute was settled for $248,299. The customer alleged that from 2007 Mansour misrepresented himself as a bank appointed trust officer and that in the process of transferring the business to Frost , Mansour changed the ownership of certain trusts’ monies.
If you have losses in an account handled by David M. Mansour, contact us to discuss your 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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