David Philip Antypas of Brentwood Tennessee a stockbroker formerly registered with LPL Financial LLC is the subject of a Tennessee Department of Commerce and Insurance Securities Division disciplinary action where the regulator is seeking the denial of Antypas’ securities registration based upon accusations that (1) during the time Antypas was associated with LPL Financial LLC Antypas inserted unauthorized individuals on the beneficiary designations of a customer’s investment accounts and (2) while registered at CFD Investments Inc. Antypas caused another individual affiliated with the firm to obtain customer account information subsequent to Antypas’ termination from the firm. Case No. 18-010 (Apr. 24, 2018).
FINRA Public Disclosure additionally reveals that prior to the regulatory action, Antypas was terminated from the two brokerage firm employers for misconduct. Specifically, on December 6, 2017, Antypas had been discharged by LPL Financial LLC founded on allegations of Antypas violating the firm’s policies by naming family members on a customer’s investment account. On February 7, 2018, Antypas became employed by CFD Investments Inc. Then, on April 19, 2018, the firm terminated him supported by accusations that Antypas hired a branch assistant who maintained relations with one of Antypas’ prior brokerage firm employers. Apparently, transactions were placed in customer accounts at Antypas’ prior brokerage firm by his branch assistant without the firm having known or consented to the transactions.
FINRA Public Disclosure further confirms that Antypas has been identified in two customer initiated investment related disputes containing allegations of his misconduct while employed with LPL Financial LLC. In particular, on August 17, 2016, a customer filed an investment related complaint regarding Antypas’ conduct in which the customer requested $237,000.00 in damages based upon accusations that misrepresentations had been made to the customer concerning junk bonds, annuities and real estate investment trust products; and unsuitable real estate securities had been sold to the customer.
Also, Antypas is subject of a customer initiated investment related written complaint on August 27, 2018 where the customer sought $400,000.00 in damages founded on allegations that between November 5, 2017 and August 27, 2018, trades were executed in the customer’s account on an excessive basis and unauthorized changes to beneficiary designations were made to the customer’s account.
Since May 22, 2018, Antypas has been registered with IFS Securities.
