FINRA barred former Newport Coast Securities (Irvine, California) broker George Jeffrey Dahl of Laguna Woods after he refused to provide testimony during an on-the-record interview.
In 2016, FINRA suspended Dahl and fined him $20,000 for willfully failing to disclose a bankruptcy filing and unsatisfied federal tax lien, all while engaging in an outside business activity—for which he received compensation—and effecting unauthorized securities transactions that he similarly failed to disclose to his firm.
AWC #2017053631301 (FINRA Bars George Dahl, 2017)
AWC #201303879901 (FINRA Suspends Dahl, 2016)
The 2016 report found that Dahl (CRD #59820) performed business activities for a manufacturing company while associated with Newport Coast Securities, and without providing required written notice to Newport.
According to the AWC, Dahl's tasks at the manufacturing company, for which he received compensation (that he similarly failed to properly disclose to Newport), included referrals, working on press releases, arranging business meeting, and assisting with facility tours.
Investigators additionally discovered that Dahl executed unauthorized sales of securities in a Newport customer's brokerage account, and also caused the firm's books and records to be inaccurate.
The most recent customer dispute in Dahl's BrokerCheck file is a 2013 settlement for $300,000 based on allegations of unsuitability and breach of fiduciary duty. Additional settled complaints and awards/judgments against Dahl include allegations of unsuitable recommendations, improper use of margin and incorrect risk level, unauthorized trades, and an additional award for an unsuitable investment.
In 2005, then-employer RBC Cain Rauscher Inc. discharged Dahl over allegations that he exercised the use of discretion without consent or written authority that the firm stated was "grossly negligent and violated company policy."
Since then, Dahl's registrations include stints at The Seidler Companies Incorporated of Irvine (2005-06), Brookstreet Securities Corporation of San Juan Capistrano (2006-07), Wedbush Securities of Newport Beach (2007-10), Newport Coast Securities of Irvine (2010-14), and Revere Securities of New York (2015).
If you have invested with ex-Newport Coast Securities broker George Jeffrey Dahl or with any representative or financial adviser whose undisclosed outside business activities, or unauthorized trading, sale, or use of discretion in your account without proper authorization, consent, or notice has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.