Lyle Davis Investigation
May 2022 – Salt Lake City, UT
According to publicly attained records, Lyle W. Davis, a stockbroker who is not currently registered and who was last employed by Wilson-Davis & Co. , discloses a several prior regulatory matter.
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 July of 2019, in case #2016048837401 FINRAA alleged that Davis was named a respondent in a FINRA complaint alleging that he failed to establish, maintain, and enforce a supervisory system, including WSPs, reasonably designed to achieve compliance with applicable securities law, regulations and FINRA rules. The complaint alleges that Davis and his firm provided false and misleading information to FINRA by providing false and misleading spreadsheet purporting to represent a contemporaneous annotated record of the firm’s and Davis’s daily review and supervision of the firm’s trading activity in the company, when, in fact, no such responsive documents existed. Sanctions imposed on Davis were a twenty one month suspension from FINRA in all capacities and a $30,000 fine levied against Davis individually.
If you have losses in an investment account handled by Lyle Davis, contact us for a no charge consultation with an experienced securities attorney to learn about 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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