The Financial Industry Regulatory Authority (“FINRA”) reports that it indefinitely suspended David Rockwell (CRD#: 4236377, Fort Myers, Florida). It appears that Rockwell failed to respond to requests for information that FINRA made in 2019. BrokerCheck shows that his suspension started on December 16, 2019 and may convert to a bar on February 25, 2020 unless Rockwell requests termination of the suspension in time.
Apparently, on July 12, 2019, a client of Cetera Advisor Networks contested David Rockwell’s sales practices through filing a lawsuit under Docket #: 2019-2267. Notably, the client asserted that “Mr. Rockwell was involved in forgery and fraud” with respect to their accounts. It seems that the client sustained $700,000 in losses because of the unauthorized transactions in their Cetera Advisor Networks accounts. For this reason, the client demanded compensation from Cetera or Rockwell in this ongoing matter.
Evidently, a client of Rockwell brought FINRA Arbitration #: 19-01785 on June 26, 2019 in regard to David Rockwell. Apparently, the client claimed that the securities broker “misappropriated money from his investment accounts.” Supposedly, Rockwell directed the client’s funds to a private security which bore a relation to one of Rockwell’s companies. For losses sustained on the private security transaction, Cetera Advisor Networks agreed to compensate the client $215,000. This matter settled on October 9, 2019.
Evidently, both Cetera and World Choice Securities disaffiliated with David Rockwell. Namely, Cetera Advisor Networks discharged him on November 14, 2018 after Rockwell disclosed that he was charged with a felony. Notably, in Case No. 18CF018600, Rockwell pled guilty to aggravated stalking.
It appears that World Choice Securities discharged David Rockwell on June 21, 2019. Allegedly, from 2016 to 2018, he established an LLC for real estate deals and funded the company with $400,000. Word Choice Securities indicated that those real estate transactions never materialized.
Did you experience losses because of broker David Rockwell? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about 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 suffered losses due to misconduct of brokers and brokerage firms.
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