George Dahl, of New York, New York, a stockbroker formerly registered with Revere Securities, has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to comply with FINRA in the course of an investigation into allegations of his wrongdoing. Letter of Acceptance, Waiver and Consent, No. 2017053631301 (Aug. 10, 2017).
According to the AWC, Dahl was sent a letter from FINRA staff on July 5, 2017, which called upon him to provide recorded testimony in furtherance of an investigation into his misconduct according to Rule 8210. Dahl reportedly failed to provide the testimony to FINRA staff despite making an appearance. FINRA found that Dahl’s conduct was violative of FINRA Rules 2010 and 8210.
Dahl has also been fined $20,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that while he was associated with Newport Coast Securities, he engaged in outside business activities and effected trades in customer accounts on an unauthorized basis. Letter of Acceptance, Waiver and Consent, No. 2013038789901 (Mar. 3, 2016).
FINRA Public Disclosure reveals that Dahl has been identified in nine customer initiated investment related disputes containing allegations of his misconduct while employed with RBC Dain Rauscher Inc., Seidler Companies Incorporated, Smith Barney Shearson, Sutro & Co., Brookstreet Securities, and Newport Coast Securities. In particular, between October 31, 1991 and April 25, 2002, three customer disputes were filed by customers, wherein their claims were ultimately resolved to settle allegations against Dahl of suitability. Then, on April 18, 2005, a customer initiated investment related written complaint involving Dahl’s conduct was settled for $10,231.05 in damages based upon allegations that Dahl effected unauthorized over-the-counter equities trades in the customer’s account.
On October 22, 2014, another customer initiated investment related written complaint regarding Dahl’s activities was resolved for $300,000.00 in damages based upon allegations that Dahl breached his fiduciary duties and effected unsuitable private placement and over-the-counter equities transactions in the customer’s account. Subsequently, on November 1, 2011, a customer was awarded $12,500.00 in damages according to an investment related arbitration claim involving Dahl’s wrongdoing, based upon allegations that Dahl breached his fiduciary duties to the customer and effected stock transactions in the customer’s account that were neither suitable nor authorized by the customer.
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