David Leonard Potter (CRD #2991638, St. Petersburg, Florida)
was assessed a deferred fine of $15,000 and suspended by FINRA for five months for allegedly participating in a private offering before his member firm approved the offering and after the firm requested that he cease participation.
FINRA's findings stated that Potter failed to file the offering documents with FINRA’s Corporate Finance Department and made negligent misrepresentations to investors regarding the financial statements attached to the private placement memorandum. Potter knew that the minimum contingency had not been and would not be met. Potter was also notified that the offering had significant regulatory deficiencies and therefore understood that the offering needed to be unwound, with the investor funds returned. Potter later returned the funds to investors.
The suspension is in effect from January 5, 2015, through June 4, 2015. (FINRA Case #2013035055102)
David L Potter was registered in the securities industry for 14 years and was previously registered with the following securities firms:
03/2010 - 05/2013 LASALLE ST SECURITIES, L.L.C. (CRD# 7191) - TAMPA, FL
09/2006 - 03/2010 ROYAL ALLIANCE ASSOCIATES, INC. (CRD# 23131) - TAMPA, FL
02/2002 - 09/2006 RAYMOND JAMES FINANCIAL SERVICES, INC. (CRD# 6694) - NORTH YORK
10/2001 - 03/2002 RAYMOND JAMES LTD (USA), INC. (CRD# 25853) - VANCOUVER, B.C.
05/1998 - 08/2001 TD SECURITIES (USA) INC. (CRD# 18476) - NEW YORK, NY
Florida-based Soreide Law Group, recently obtained the following information from FINRA's website under “Disciplinary and Other FINRA Actions, January, 2015,” and that information ends here.
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