Donald Newton McCoy, of Saint Louis, Missouri, a stockbroker registered with Raymond James & Associates, Inc., has been fired from the company on August 12, 2016, based upon allegations that he engaged in outside business activities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that McCoy was also terminated from a prior employer, Merrill Lynch, Pierce, Fenner & Smith Incorporated on December 6, 2011, based upon allegations of wrongdoing. Particularly, the firm claimed that McCoy made unsuitable investment recommendations to customers pertaining to investments in leveraged and inversed exchange traded funds, and engaged a customer in a transaction not approved via the firm.
Moreover, on December 28, 2005, a customer filed an investment related written complaint involving McCoy’s conduct, wherein the customer requested $16,562.00 in damages based upon allegations that while associated with A.G. Edward & Sons, Inc., McCoy negligently handled the customer’s investment account and effected stock transactions that were not suitable for the customer.
Since May 2, 2017, McCoy has been registered with Cetera Financial Specialists LLC.
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