David Henry Niswonger of South Bend Indiana is a stockbroker currently registered with Raymond James and Associates who is the subject of a customer initiated investment related arbitration claim that settled for $52,000.00 in damages founded on accusations including (1) violation of federal securities laws (2) violation of National Association of Securities Dealers (NASD) and Financial Industry Regulatory Authority (FINRA) Rules (3) omissions and misrepresentations (4) breach of the duty of good faith and fair dealing (5) over-concentration of the customer’s assets (6) breach of contract (7) negligence (8) breach of fiduciary duty and (9) suitability of stock and over-the-counter equities transactions effected in the customer’s account. FINRA Arbitration No. 16-03456 (Oct. 26, 2017).
FINRA Public Disclosure confirms that Niswonger has been identified in two additional customer initiated investment related disputes that pertain to accusations of his violative conduct during the time that he was associated with Salomon Smith Barney. Specifically, on August 10, 2000, a customer filed an investment related written complaint involving Niswonger’s conduct in which the customer sought $8,000.00 in damages supported by allegations that the customer’s instructions were not followed regarding over-the-counter equities liquidations from the customer’s account. Then, on February 7, 2001, a customer filed an investment related written complaint regarding Niswonger’s activities, alleging that the customer’s instructions were disregarded concerning the sale of stock from the customer’s investment portfolio.
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