David Jonathan Bolton of Bowling Green Kentucky a stockbroker formerly registered with Thurston Springer Financial is the subject of a customer initiated investment related complaint on July 9, 2019 where the customer sought $24,770.00 in damages based upon accusations of negligence with respect to mutual funds and annuities purchased and sold by the customer when Bolton was associated with Thurston Springer Financial.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Bolton has been identified in two more customer initiated investment related disputes concerning accusations of his misconduct during the time that he was employed by securities broker dealers including Signator Investors Inc. and Thurston Springer Miller Herd Titak Inc. On April 1, 2016, a customer filed an investment related complaint involving Bolton’s conduct in which the customer requested unspecified compensatory damages based upon allegations of unsuitable mutual fund shares purchased for the elderly customer’s account which generated unwarranted commissions by the stockbroker when he was associated with Signator and Thurston Springer.
On March 30, 2017, a customer initiated investment related complaint concerning Bolton’s activities was resolved for $71,750.61 in damages founded on accusations that Bolton’s advice regarding investments and insurance products failed to be suitable for the Signator customer.
FINRA Public Disclosure indicates that Bolton has been barred from associating with any FINRA member in any capacity supported by findings that Bolton made unsuitable trades in accounts of Signator and Thurston Springer customers. Department of Enforcement v. David JC Bolton Default Decision No. 2016049775701 (Sept. 21, 2018).
According to the Decision, Class A mutual fund shares were traded on a short term basis resulting in unnecessary sales charges for a customer. Another customer’s investments were inappropriately spread among eleven fund families. Bolton also mismarked customers’ order tickets to make it seem as though he did not solicit trades in their accounts. FINRA determined that Bolton’s conduct was violative of FINRA Rules 2111, 4511 and 2010.
Bolton has also been ordered by Kentucky Department of Financial Institutions to pay a $220,000.00 fine and to cease and desist from violating Kentucky securities laws based upon accusations that (1) Bolton effected sales of unregistered promissory notes and (2) Bolton made omissions or misrepresentations with regard to the securities transactions he effected through Bolton Total Wealth Management and Spirited Funds LLC. Order No. 2019-AH-00006 (May 13, 2019).
