FINRA Sanctions Darrell Smith

Soreide Law Group is investigating possible investor claims against Darrell Smith (also known as Darrell Anthony Smith Jr.) (CRD: 6774881, Memphis, Tennessee). Notably, FINRA sanctioned the securities broker, who worked for Wells Fargo Clearing Services LLC. Allegedly, Smith failed to testify when FINRA investigated the securities broker for possible FINRA rule violations relating to unauthorized trading. Here is a brief summary of the allegations against Smith. However, bear in mind that Smith denies the allegations against him.

FINRA Sanctions Darrell Smith For Failure To Testify

Evidently, on February 24, 2021, FINRA issued Case: 2020065527102 sanctioning Darrell Smith for infractions. Specifically, Smith was barred as a securities broker, which means he is not permitted by FINRA to work with any FINRA-member firms as a securities broker or in other capacities. Namely, FINRA alleged that Smith failed to testify when FINRA investigated the securities broker for possible FINRA rule violations concerning an unauthorized transaction. Supposedly, FINRA investigated the basis of Smith’s termination at Wells Fargo (see below), but Smith refused to testify about it.

Wells Fargo Clearing Services LLC Terminates Smith For Unauthorized Withdrawal

Particularly, Smith worked for Wells Fargo Clearing Services, LLC in Memphis, TN, as a securities broker from June 2017 to February 2020. Also, on January 6, 2020, Wells Fargo Clearing Services LLC disaffiliated with Smith. Particularly, Wells Fargo Clearing Services LLC alleged that Smith withdrew client funds without authorization. Allegedly, he initiated transactions and payments out of two client accounts. Wells Fargo contends that clients disputed some of those transactions.

Did Wells Fargo Clearing Services LLC Securities Broker Darrell Smith Cause You To Experience Damages?

Incurred damages through investing with Darrell Smith? You should contact Soreide Law Group at (888) 760-6552 and speak with a securities attorney about a possible recovery of your investment losses. Soreide Law Group, who has helped recover funds for many investors in all 50 states, represents investors like you on a contingency fee basis and advances all costs. Smith and brokerage firms Smith worked for deny any and all allegations of sales practice violations.