Donna Lynn Barnard (also known as Donna Lynn Stargell and as Donna Lynn Brooks) of Kilgore Texas a stockbroker registered with HD Vest Investment Services and Signal Securities Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $50,000.00 in damages based upon allegations that Woodbridge Mortgage Fund promissory note transactions were effected in the customer’s account without Signal Securities’ knowledge or consent. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00282 (Dec. 12, 2019).
FINRA Public Disclosure confirms that Barnard has been referenced in thirteen more customer initiated investment related disputes concerning accusations of her misconduct during the time that she was employed by securities broker dealers including HD Vest Investment Services Inc, Signal Securities and Woodmen Financial Services. In particular, a customer filed an investment related arbitration claim concerning Barnard’s activities where the customer sought damages estimated to exceed $5,000.00 founded on accusations that when Barnard was employed by HD Vest, false or misleading statements had been made in regard to the terms and conditions of direct participation program interests or limited partnership interests investments including investments in Woodbridge Companies. FINRA Arbitration No. 19-00325 (Sept. 18, 2018).
Also, a customer initiated related arbitration claim pertaining to Barnard’s conduct has been settled for $76,597.00 in damages supported by allegations that when Barnard had been employed by HD Vest, the customer was sold an investment called Woodbridge Mortgage Investment Fund which was neither registered nor exempt from registration requirements, due diligence had not been adequately performed by the stockbroker prior to investment recommendations being made, and misleading statements were made to the customer pertaining to direct participation program interests or limited partnership interests. FINRA Arbitration No. 18-00455 (Mar. 6, 2019).
Barnard is additionally referenced in a customer initiated investment related arbitration claim which has been resolved for $17,500.00 in damages based upon accusations that untrue statements were made to the customer concerning promissory notes transactions effected when Barnard was associated with Woodmen Financial Services Inc, and Woodbridge Pre-Settlement Funding, LLC transactions were unsuitable given the customer’s investment profile. FINRA Arbitration No. 18-00311 (May 28, 2019). Another customer initiated related arbitration claim involving Barnard’s conduct was settled for $47,152.34 in damages based upon allegations that when Barnard was associated with Signal Securities, Woodbridge Mortgage Investment Funds recommendations and transactions were not suitable given the customer’s risk tolerance or financial requirements, and misrepresentations were made to the customer by the stockbroker. FINRA Arbitration No. 18-00936 (Nov. 5, 2019).
Also, Barnard has been barred from associating with any FINRA member in any capacity founded on findings that the stockbroker failed to comply with FINRA Rule 8210 by neglecting to provide information and documentation to FINRA personnel during the time that she was under investigation for offering or selling unregistered and non-exempt securities while she was employed by HD Vest Investment Services. Letter of Acceptance Waiver and Consent No. 2018057494201 (Sept. 7, 2018).
Barnard’s registration with HD Vest Investment Services was terminated on May 22, 2017.
