Chad Daniel Hornaday of Carlsbad California a stockbroker formerly registered with AXA Advisors LLC is referenced in a customer initiated investment related written complaint on May 7, 2019 in which the customer requested unspecified damages founded on allegations that the customer was placed into a real estate investment trust product that failed to be suitable.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Hornaday has been identified in two additional customer initiated investment related disputes pertaining to accusations of his misconduct during the time that he was associated with AXA Advisors. Specifically, Hornaday is the subject of a customer initiated investment related arbitration claim which was settled for $250,000.00 in damages supported by allegations of Hornaday engaging in unpermitted private securities transactions where the customer’s loans had been solicited and then embezzled, causing the customer to incur drastic losses. FINRA Arbitration No. 17-01619 (May 15, 2018).
Additionally, a customer initiated investment related complaint concerning Hornaday’s conduct was resolved for $8,120.34 in damages based upon accusations that false or misleading statements had been made by the stockbroker concerning securities sold by Hornaday during the period in which he was employed by AXA Advisors, LLC.
FINRA Public Disclosure additionally reveals that Hornaday has been barred from associating with any FINRA member in any capacity founded on allegations that the stockbroker neglected to comply with a pre-investigation request. The inquiry came after Hornaday was terminated by AXA Advisors LLC supported by accusations that he sold away from the firm and procured loans from customers all without notifying AXA Advisors LLC or procuring approval.
Hornaday was issued a Notice of Suspension letter dated May 1, 2017 and a Suspension from Association letter dated February 1, 2017. At the time, Hornaday was warned by the regulator that his failure to provide information or otherwise request termination of his suspension by an April 30, 2019 deadline could result in him being barred from the securities industry. Hornaday neglected to seek the termination of his suspension within the deadline imposed by FINRA resulting in him being barred in all capacities.
