FINRA Bars David Snavely

Soreide Law Group is investigating possible investor claims against securities broker David Alan Snavely (also known as Dave Snavely) [CRD: 2030866, Des Moines, Washington]. Notably, FINRA sanctioned the securities broker, who worked for Cetera Advisors LLC. Allegedly, Snavely failed to cooperate with FINRA. Here is a brief summary of FINRA’s allegations against Snavely.

FINRA Sanctions Snavely For Failure To Provide Information

Evidently, on July 7, 2023, FINRA issued Case: Acceptance, Waiver, and Consent No. 2020066334701 sanctioning David Snavely for infractions. Specifically, FINRA alleged that Snavely failed to provide information and documents to the regulator in an investigation into potential FINRA rule violations.

Snavely, without admitting or denying the findings, accepted the sanctions put forth by FINRA. This decision came after a review wherein FINRA sought information and documents from Snavely but to no avail. The investigation was triggered by an updated Form U5 filed by his member firm. This amended form highlighted that the firm had discharged Snavely due to allegations that he had engaged in selling unsuitable annuities as part of replacement transactions.

The permanent bar means he is indefinitely prohibited from engaging in activities under FINRA's purview. The bar affects Snavely in all capacities.

Washington State Securities Division Sanctions David Snavely For Unsuitable Recommendations

Particularly, on September 28, 2022, Washington State Securities Division issued Case: Consent Order No. S-20-2957 sanctioning David Snavely for infractions. Notably, Washington State Securities Division alleged that Snavely made unsuitable recommendations concerning variable annuities. A monetary penalty in the form of civil and administrative fines has been levied against him. The total amount of this penalty is $15,000.00. He received a denial of registration for a span of two years (ending 2022).

Employment Information

David Snavely worked for Cetera Advisors LLC as a securities broker from April 2011 to March 2020. Subsequently, he worked for Cadaret Grant Co., International Assets Advisory LLC, and most recently, TCFG Wealth Management LLC.

Did Cetera Advisors LLC Securities Broker David Snavely Cause You To Experience Damages?

Did you sustain damages because of David Snavely? If so, contact Soreide Law Group online or at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, a firm that has recovered money for investors throughout the country, represents clients on a contingency fee basis and advances all costs. Snavely and brokerage firms Snavely worked for deny accusations of sales practice violations.