April 2018 -Wagoner, OK
According to FINRA records, William David Lancaster , a stockbroker who formerly was employed by Edward Jones, disclose a prior customer dispute, a regulatory investigation 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.
According to Enforcement Division Recommendations filed by the State Of Oklahoma Department of Securities in March 2018, Lancaster is the subject of an internal investigation commenced by Edward Jones regarding discretionary trading in as many as 20 customer accounts. However, in an application filed by Lancaster with the regulatory he made inaccurate representations to the regulator regarding knowledge of the investigation. The Oklahoma regulator found that Lancaster has engaged in dishonest and unethical practices in the securities business.
David Lancaster was employed by Edward Jones from 4/1999-2/2018.
Brokers have a duty to discuss purchases and sales with their customers prior to making trades in their accounts, unless previous written authority has been granted to the broker by the customer.
If you have losses in an account handled by David Lancaster or believe that your account has been mishandled, contact us for a no charge consultation to discuss 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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