YAN MATTHEW DAVIS (RYAN M DAVIS, RYAN DAVIS) CRD#: 6219294, a broker formerly with Wells Fargo Clearing Services of Mahwah, New Jersey, was suspended by the Financial Industry Regulatory Authority (FINRA) on June 24, 2020, from association with any FINRA member in any capacity for 18 months (from 7/6/2020 to 1/5/2022) and fined $15,000 following allegations that he allegedly engaged in outside business activities which involved cryptocurrency investments. According to FINRA he allegedly failed to notify Wells Fargo and provided false information to conceal his actions.
Without admitting or denying FINRA’s findings, RYAN MATTHEW DAVIS consented to the sanctions and to the entry of findings that he allegedly engaged in undisclosed outside business activities without providing written notice to his member firm through his creation of, ownership in, and management of limited liability companies and a limited partnership established to trade cryptocurrencies, and a limited liability company established to trade commodity futures.
FINRA’s findings stated that as compensation, RYAN MATTHEW DAVIS expected to receive a portion of the net profits generated from the entities’ cryptocurrency trading and from the commodities trading. However, no profits were generated. FINRA’s findings also stated that Davis participated in private securities transactions without providing prior written notice to his firm.
Also, FINRA’s findings included that Davis intentionally provided false information to his firm to conceal his outside business activities and private securities transactions. RYAN MATTHEW DAVIS provided false answers to questions on his firm’s annual compliance questionnaires. Each questionnaire asked Davis, among other questions, whether he was engaged in any outside activity. Davis falsely claimed to have withdrawn all involvement with the outside businesses and stated that he paid the states of incorporation to disassociate his name with these entities, which assertion was also false.
According to FINRA’s BrokerCheck, RYAN MATTHEW DAVIS was terminated Jan. 4, 2019, from Wells Fargo Clearing Services, Inc. following allegations that he “took steps to start a cryptocurrency company without disclosing his intent and requesting pre-approval from the Firm.” Davis is not currently registered as a broker or Registered Investment Adviser. Davis has 3 Disclosures on his FINRA CRD report and was registered in the securities industry with the following 2 firms for 4 years:
04/02/2015 – 01/31/2019 WELLS FARGO CLEARING SERVICES, LLC – MAHWAH, NJ
09/04/2013 – 10/29/2014 MERRILL LYNCH, PIERCE, FENNER & SMITH INC – FORT LEE, NJ
If you’ve experienced investment losses due to the actions or recommendations of the former Wells Fargo Clearing Services of Mahwah, New Jersey, broker RYAN MATTHEW DAVIS, contact Soreide Law Group and speak to an experienced securities lawyer regarding the recovery of your financial losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.