David Mark Waddle of Destin Florida a stockbroker formerly employed by Raymond James Associates Inc. has been discharged by Raymond James on June 5, 2017 based upon allegations that Waddle (1) admitted to exercising discretion in customer accounts by placing trades without speaking with those customers beforehand and (2) neglected to inform Raymond James Associates about a customer’s possible lack of capacity for making investment decisions.

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Waddle has been identified in five additional customer initiated investment related disputes containing accusations of his violative conduct while employed with Shearson Lehman Hutton, Inc., PaineWebber, and UBS. Specifically, Waddle was subject of a customer initiated investment related arbitration claim in which the customer was awarded $9,800.00 in damages according to Waddle having been found liable for failing to supervise aspects of certain transactions that had been effected in the customer’s investment account. National Association of Securities Dealers (NASD) Arbitration No. 91-00745.

Then, a customer initiated investment related arbitration claim concerning Waddle’s activities was resolved for $24,850.00 in damages supported by allegations that Waddle churned the customer’s account, placed trades in the customer’s account without first receiving the customer’s permission, misrepresented the terms and conditions of the customer’s investments, and effected transactions in the customer’s account that were in no way suitable for the customer. NASD Arbitration No. 94-02530.

Thereafter, a customer initiated investment related complaint concerning Waddle’s conduct was settled for $50,000.00 in damages founded on accusations that purchases of Scios-Nova stock had been executed in the customer’s account on an unsuitable and excessive basis, and misrepresentations were made to the customer concerning the risks relating to those investments. Moreover, a customer filed an investment related complaint involving Waddle’s activities where the customer requested unspecified damages based upon allegations that Waddle failed to disclosure risk factors pertaining to the customer’s investment in variable annuity products, and made misleading statements to the customer concerning the safety of the annuity purchased by the customer.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer

Guiliano Law Group

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from across the United States. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or a no obligation evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com