Rick Alan Davidson of New York New York a stockbroker formerly registered with Jeffries LLC and National Securities Corp is referenced in a customer initiated investment related arbitration claim in which the customer requested $500,000.00 in damages supported by allegations that misrepresentations were made by the stockbroker and that equities transactions were unsuitable for the customer of Jeffries and National Securities Corp. FINRA Arbitration No. 20-01888 (June 20, 2020).
Davidson has been identified in six more customer initiated investment related disputes concerning accusations of his wrongdoing while employed by Morgan Stanley Smith Barney, National Securities Corp. FINRA Public Disclosure reveals that a customer filed an investment related complaint concerning Davidson’s conduct where the customer sought $565,677.71 in damages founded on allegations of the concealment of information relating to the return on the customer’s investment in structured products that were purchased when Davidson was associated with Morgan Stanley Smith Barney.
Davidson is also the subject of a customer initiated investment related written complaint which was resolved for $8,185.90 based upon accusations that a bond purchase was initiated by Davidson without the customer’s knowledge or consent. The complaint also alleges that the investment was not appropriate for the Morgan Stanley customer. Another customer initiated investment related complaint involving Davidson’s activities was resolved for $101,787.94 in damages supported by allegations that stock and corporate debt trades lacked authorization.
On May 15, 2017, a customer initiated investment related complaint regarding Davidson’s activities was resolved for $21,000.00 in damages based upon accusations that unauthorized corporate bond transactions were effected in the customer’s account between January of 2015 and May of 2016. Davidson is also referenced in a customer initiated investment related arbitration claim which was settled for $175,000.00 in damages founded on allegations that it was not suitable for the Morgan Stanley customer to have been placed in corporate bonds by Davidson. FINRA Arbitration No. 16-02283 (June 20, 2017).
On November 4, 2019, another customer filed an investment related complaint concerning Davidson’s conduct in which the customer requested more than $5,000.00 in damages supported by accusations of inappropriate investments by Davidson at National Securities Corp.
Davidson was terminated by Morgan Stanley based on allegations that he engaged in discretionary trading of customer accounts. His registration with Jefferies LLC and Jeffries Investment Advisers LLC has been terminated as of July 10, 2017. Between June 16, 2017 and August 14, 2020, the stockbroker was employed by National Securities Corp. and National Asset Management. Since August 10, 2020, Davidson has been registered with Aegis Capital Corp. as a stockbroker and investment adviser representative.
