Daniel King Cited for Unsuitable Recommendations on Margin Resulting in Damages

Attorney Advising Disclaimer

FINRA fined and suspended former Newbridge Securities Corporation broker Daniel M King of Venice, California for a series of unsuitable recommendations and use of margin resulting in customer harm.

Dan King (CRD #5954543), who subsequently worked as a broker at Benchmark Investments and Kingswood Capital Partners, recommended unsuitable use of margin in customer accounts, causing investors to pay more than $46,000 in commissions, fees, and margin interest, according to FINRA's report.

Investigators found that King frequently recommended customers buy securities on margin before selling them in short order, causing realized losses in addition to the trading costs and interests, including what FINRA referred to as "sizeable losses."

Customers also settled two disputes filed against King alleging failure to execute, unauthorized trading, and unsuitable recommendations. King has been licensed as an investment adviser in California, Michigan, New Jersey, New York, Oklahoma, Texas, and Utah since July 2022.

If you invested with ex-Newbridge Securities broker Daniel King or with any investment adviser or representative who made unsuitable recommendations or traded in your account without authorization or on margin, resulting in losses or the incurrence of excessive fees, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Related Posts
  • After $13 Million in Penalties for 'Widespread Failure,' Oppenheimer Fined $500,000 for Supervisory and Suitability Gaps Read More
  • FINRA barred former Independent Financial Group (IFG) broker Brett Arthur Hartvigson of San Diego, California for refusing to cooperate with its investigation into allegations that were part of a complaint. In 2021, while associated with IFG, Brett Harvgi Read More
  • Stifel Nicolaus Failed to Detect Unsuitable Recommendations Despite Risk Policy, Says FINRA Read More