David Cohen Of Cetera Investment Services Barred After FINRA’s Misappropriation Investigation

Investors potentially experienced sales practice violations by securities broker David Nathan Cohen [CRD: 5083883, Yonkers, New York], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. David Cohen worked for Cetera Investment Services LLC from June 20, 2019, to December 10, 2025. Keep reading to find out more about the disclosures involving Cohen.

FINRA Sanctioned Cohen For Failure To Cooperate In Investigation Into Misappropriation

Evidently, on March 3, 2026, FINRA issued Case: 2025088109801 sanctioning David Cohen. Specifically, Cohen was barred from associating with any FINRA member in all capacities. Notably, FINRA alleged that Cohen failed to testify when FINRA investigated possible violations of FINRA rules involving allegations that client funds were paid directly to him and allegedly used to support his business.

According to FINRA, the matter originated from a client complaint. FINRA stated that, on February 3, 2026, it requested testimony from Cohen according to FINRA Rule 8210 in connection with its investigation into whether Cohen converted or misappropriated client funds. The regulator alleged that Cohen acknowledged receipt of the request but stated that he would not appear for testimony about the potential misappropriation of funds.

FINRA further alleged that Cohen’s refusal to appear for testimony violated FINRA Rules 8210 and 2010. Rule 8210 requires securities brokers to provide testimony and information during FINRA investigations, while Rule 2010 requires securities professionals to uphold high ethical standards. Cohen consented to the sanction without admitting or denying FINRA’s findings.

David Cohen Disclosed Sales Practice Violation Allegations By Cetera Investment Services LLC Client

Particularly, a client of Cetera Investment Services LLC contested David Cohen’s sales practices, according to a complaint dated January 30, 2026. Allegedly, Cohen received wire transfers directly from the client as part of an alleged scheme. It appears that Cohen allegedly caused the client to experience damages. Consequently, the client sought compensation from Cetera Investment Services LLC or Cohen in this matter.

Cetera Investment Services LLC Investor Accused Cohen Of Unauthorized Activities

Also, a client filed a complaint about David Cohen. Mainly, the client alleged that proceeds from a liquidated variable annuity were used for what the client believed were purchases of investments and paid directly to Cohen. Therefore, on March 24, 2026, Cetera Investment Services LLC settled this matter by paying the client $250,050.19.

Have You Made Investments Through Securities Broker / Financial Advisor David Cohen?

Do you have questions or concerns regarding investments you made with David Cohen? If so, reach out to Soreide Law Group at (888) 760-6552 or online and talk with a securities attorney about a possible recovery of your investment losses. Soreide Law Group has recovered losses for individuals throughout the country. Also, our securities lawyers work on a contingency fee basis and advance all costs. Cohen and brokerage firms Cohen worked for deny allegations of sales practice violations.