Andre Pierre Davis of Red Bank New Jersey a stockbroker currently registered with First Standard Financial Company LLC is the subject of a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages based upon allegations that unsuitable transactions were executed and the customer’s account was churned. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02596 (July 30, 2018).
FINRA Public Disclosure reveals that Davis is referenced in eight additional customer initiated investment related disputes containing accusations of Davis’ violative conduct during the time that he was associated with First Standard Financial Company, Newbridge Securities Corporation and First Montauk Securities Corp. Specifically, on September 25, 2002, a customer filed an investment related complaint regarding Davis’ activities where the customer requested $11,000.00 in damages supported by allegations that Davis effected unauthorized over-the-counter equities trades in the customer’s account.
On April 14, 2004, another customer filed an investment related complaint involving Davis’ conduct in which the customer sought $22,470.00 in damages founded on accusations that misrepresentations had been made to the customer concerning corporate bond purchases. Then, a customer initiated investment related arbitration claim involving Davis’ conduct was resolved for $63,000.00 in damages based upon allegations that Davis failed to execute the customer’s stop loss order and traded in the customer’s account without authorization. FINRA Arbitration No. 09-05200 (Oct .11, 2011).
On May 10, 2010, another customer filed an investment related complaint concerning Davis’ activities where the customer requested $190,279.00 in damages supported by accusations that Davis put the customer in exchange-traded funds, stock and over-the-counter equities that were not appropriate for the customer. On October 5, 2010, a customer initiated investment related complaint regarding Davis’ activities was settled for $12,500.00 in damages founded on allegations that Davis misrepresented information about the customer’s investments, charged the customer commissions that were excessive; engaged in unapproved transactions in the customer’s account; and effected unsuitable exchange-traded fund and equity trades.
Moreover, a customer initiated investment related arbitration claim concerning Davis’ conduct was resolved for $135,000.00 in damages based upon accusations of the failure to follow the customer’s instructions; breach of fiduciary duty; churning; excessive commissions; misrepresentations; and unsuitable over-the-counter equity, stock and exchange-traded fund transactions. FINRA Arbitration No. 10-15704 (Oct. 12, 2011). Moreover, a customer initiated investment related arbitration claim regarding Davis’ activities was settled for $24,999.00 in damages supported by allegations that bad investment advice was provided to the customer concerning common and preferred stock investments. FINRA Arbitration No. 16-01793 (May 15, 2017).
Since March 8, 2000, Davis has been associated with seven different broker dealers, four of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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