Former Cuna Brokerage Services of Pembroke Pines, Florida Broker, David Ladin, Suspended and Assessed a Deferred $10K Fine by FINRA

Soreide Law Group, based in South Florida, obtained the following information from FINRA’s website’s May 2017 Disciplinary Report regarding Florida broker:
David Ladin (CRD #3220407, Fort Lauderdale, Florida)
Ladin was assessed a deferred fine of $10,000 and suspended by FINRA for four months for allegedly borrowing $12,000 from a client and failing to notify his member firm of the loan or obtain its approval.
FINRA’s findings stated that Ladin’s client was neither an immediate family member nor a person who engaged in the business of providing credit. The loan was documented by a handwritten promissory note, which required Ladin to repay the loan within one year in equal $1,000 monthly payments. The firm’s WSPs prohibited its representatives from borrowing funds from clients unless previously authorized in writing by the firm.
Allegedly, Ladin completed three firm annual compliance questionnaires in which he indicated that he had neither solicited nor accepted a loan from a client. The client filed a FINRA arbitration claim seeking, among other things, repayment of the loan. Ladin’s firm settled the client’s claims.
FINRA’s findings also stated that Ladin engaged in an outside business activity, without providing prior written notice to his firm regarding his role in the outside business activity. The FINRA report states that Ladin completed three firm annual compliance questionnaires in which he indicated that he was not involved in any outside business activities.
The suspension is in effect from April 3, 2017, through August 2, 2017. (#2015046432001)
According to FINRA’s BrokerCheck, David Ladin, has 4 Disclosures on his report, one of them is an ‘employment separation after allegations’ on 9/30/15 from his most recent firm, Cuna Brokerage Services.  Ladin has been in the securities industry for 16 years and has been listed with 6 firms.  The two most recent firms listed below:
01/28/2014 - 09/30/2015 CUNA BROKERAGE SERVICES, INC. - PEMBROKE PINES, FL
11/23/2007 - 01/21/2014  ALLSTATE FINANCIAL SERVICES LLC - FT LAUDERDALE, FL

If you were a client of former Cuna Brokerage Services of Pembroke Pines broker, David Ladin, and experienced losses due to his actions, recommendations, or his lack of supervision by his firm, call Soreide Law Group, conveniently based in Pompano Beach, Florida, for a free consultation with a securities lawyer regarding the possible recovery of your investment losses at:  888-760-6552.
Soreide Law Group operates on a contingency fee basis and we represent our clients nationwide before FINRA.  Let our experience work for you.