The Financial Industry Regulatory Authority (“FINRA”) reports troubling information in regard to securities broker David Roger Hirons (CRD#: 2424566, San Diego, California). Namely, four investors filed disputes regarding the securities broker, who worked for firms including RBC Capital Markets (October 2014 to April 2018) before joining Wedbush in May 2018. Namely, these disputes suggest that Hirons made inappropriate and misrepresented transactions. Here’s more.
Wedbush Client Indicates That David Hirons Made Wrong Trades
Evidently, on November 27, 2019, a client of Wedbush Securities brought a FINRA Arbitration Claim #: 19-03345 to contest David Hirons’ sales practices. Namely, the client suggested that from June 2018 to December 2018, Hirons made a number of unauthorized options transactions. The client indicated that Hirons caused him to face margin calls and resulting losses. For this reason, the client demanded $712,080 in compensatory damages and another $1,000,000 in punitive damages. Evidently, this matter is pending a resolution.
RBC Capital Markets Disaffiliates With Hirons For Violating Order Execution Policy
Evidently, RBC Capital Markets disaffiliated with David Hirons on bad terms in 2018. It seems that the financial advisor was not compliant with RBC Capital Market’s order execution policy. This could mean that Hirons placed inappropriate or even unauthorized trades in client accounts.
Past Clients Indicate Misrepresentations By David Hirons Regarding Their Investments
Notably, three other investor disputes indicate that David Hirons misrepresented clients’ investments. For instance, a Wells Fargo client complained about Hirons misrepresenting a managed futures fund. Apparently, Wells Fargo settled that dispute through a $15,000 payment to the client.
Also, two clients of UBS – David Hirons’ prior employer – brought disputes about him. Specifically, clients indicated that Hirons made false statements about investment risk. He supposedly told one client that a closed end fund was risk free. Apparently, he erroneously told the other UBS client that she would not lose principal invested in mutual funds. However, UBS denied those clients’ claims.
Losses From Hirons?
Have you experienced losses by investing with David Hirons? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities firms and brokers like Hirons.