Andrew “Andy” Durham Investigation
November 2021-Greenwood, SC
According to publicly available records. Andy T. Durham , a stockbroker formerly employed by Allstate Financial Services discloses a regulatory suspension.
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 November 2021 FINRA alleged that Durham forged a customer’s signature on a life insurance application submitted to his member firm’s insurance affiliate. The findings stated that Durham completed and submitted an application for a life insurance policy with a face value of $50,000 for a customer. For premium payments, Durham input his personal bank account information, but falsely indicated the bank account belonged to the customer. Durham never had the customer’s permission or authority to sign the application on the customer’s behalf. FINRA sanctions ordered were a four month suspension commencing November 2021 and a $5,000 fine levied against Durham individually.
Durham was employed by Allstate Financial Services from October of 2015 until January of 2021.
If you had an account with Andrew “Andy” Durham that suffered losses, you may be entitled to collect damages from his employer. Call 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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