William Danny Chancellor (also known as Danny Chancellor), of Ridgeland, Mississippi, a stockbroker formerly registered with First Allied Securities Inc., is identified in a customer initiated investment related FINRA securities arbitration claim where the customer requested $132,000.00 in damages based upon allegations that he made the unsuitable recommendation of alternative investments when he was associated with First Allied Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01665 (November 2, 2021).
Chancellor has been identified in three additional customer initiated investment related disputes regarding accusations of his wrongdoing while employed by securities broker dealers, including First Allied Securities and Cambridge Investment Research. FINRA Public Disclosure shows that a customer filed an investment related complaint involving Chancellor’s activities in which the customer sought $60,000.00 in damages based upon allegations of Chancellor’s failure to follow the customer’s instructions regarding a mutual fund purchase while Chancellor was registered with Cambridge Investment Research.
On June 15, 2018, another customer initiated investment related arbitration claim regarding Chancellor’s conduct was resolved for $20,000.00 in damages founded on accusations of excessive fees and unsuitable recommendations by Chancellor relating to direct investments, including direct participation program interests and limited partnership interests, during the time that Chancellor was employed by First Allied Securities. FINRA Arbitration No. 18-01302 (June 15, 2018). The claim alleges that omissions were made by Chancellor regarding the risks and fees on securities transactions.
Chancellor is also referenced in a customer initiated investment related arbitration claim where the customer requested $125,000.00 in damages based upon allegations of negligence, breach of contract, and breach of fiduciary duty relating to the customer’s purchase of real estate investment trusts (REITs) through Chancellor at First Allied Securities. FINRA Arbitration No. 21-01664 (July 9, 2021). According to the claim, Chancellor made misrepresentations to the customer and advised them to buy unsuitable investments.
FINRA Public Disclosure shows that Chancellor has been sanctioned twice by regulators. He was fined $5,000.00 and suspended from associating with any FINRA member in any capacity founded on findings of his failure to make required disclosures to the regulator concerning liens and judgments and for falsely attesting to his compliance with company policies regarding disclosure of a tax lien.
Chancellor was also fined $12,500.00 by Mississippi Secretary of State Securities Department, supported by accusations of him failing to ensure that a Cambridge Investment Research customer understood the terms of a transaction before entering into it, and for allowing someone to forge the customer’s signature on a document. Case No. S-11-0259.
Chancellor was registered with First Allied Securities between October 3, 2012, and January 4, 2017.
