Rick Alan Davidson of Miami Florida a stockbroker formerly registered with National Securities Corp is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer requested $1,000,000.00 in damages based upon allegations that their account was exposed to unsuitable trading of stocks by Davidson during the time that he was associated with National Securities Corp and Jeffries LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00512 (April 20, 2021).
FINRA Public Disclosure shows that Davidson has been identified in nine more customer initiated investment related disputes containing accusations of his misconduct when he was associated with Jeffries, National Securities Corp, and Morgan Stanley Smith Barney. On May 15, 2017, a customer initiated investment related complaint concerning Davidson’s activities was resolved for $21,000.00 supported by allegations that Davidson made unauthorized trades of corporate debt investments causing losses in the customer’s Morgan Stanley investment account.
Davidson is the subject of a different customer initiated investment related FINRA securities arbitration claim which was settled for $175,000.00 in damages founded upon accusations of unsuitable corporate debt trades by Davidson when he was associated with Morgan Stanley. FINRA Arbitration No. 16-02283 (June 20, 2017). On November 4, 2019, another customer filed an investment related complaint concerning Davidson’s conduct. They sought compensatory damages based on allegations of Davidson’s unsuitable corporate debt transactions while at National Securities Corp.
On November 30, 2020, an additional customer initiated investment related FINRA securities arbitration claim involving Davidson’s activities was resolved for $25,000.00 in damages supported by accusations that Davidson made misrepresentations regarding common and preferred stock transactions at Jeffries and National Securities Corp. FINRA Arbitration No. 20-01888. The claim alleges that the customer sustained damages from unsuitable stock trading by Davidson.
On February 26, 2021, another customer filed an investment related FINRA securities arbitration claim concerning Davidson’s conduct. They requested $200,000.00 in damages founded on allegations of Davidson’s unauthorized trading and misrepresentations pertaining to stock trades during the period that he was associated with National Securities Corp. FINRA Arbitration No. 21-00113. Davidson is also referenced in a customer initiated investment related FINRA securities arbitration claim which settled for $35,000.00 on April 6, 2021, based upon accusations of unsuitable and misrepresented transactions resulting in losses for the customer’s National Securities Corp and Jeffries account. FINRA Arbitration No. 20-02790.
Davidson’s registration with Morgan Stanley Wealth Management has been terminated supported by allegations that he executed trades in a customer’s account without authorization and had entered into an unauthorized loan. He was registered with Jeffries LLC and Jeffries Investment Advisers LLC between May 24, 2016, and July 10, 2017. Davidson was registered with National Securities Corporation as a stockbroker between June 16, 2017, and August 13, 2020, and registered with National Asset Management Inc. as an investment adviser representative between July 28, 2017, and August 14, 2020. Since August 10, 2020, Davidson has been a stockbroker and investment adviser representative of Aegis Capital Corp.
