FINRA recently announced that Barry Michael Donald, a former registered representative with Chase Investment Services Corp. in Morton, Illinois, has been fined $10,000 and suspended from association with an FINRA member in any capacity for 20 business days. Without admitting or denying the findings, Donald consented to the described sanctions and to the entry of findings that he made unsuitable Unit Investment Trust (UIT) recommendations to a customer given the customer’s risk tolerance level and the overly concentrated nature of the recommended investments, negligently misrepresented material facts regarding UIT sales charges and estimated yields, and failed to reasonably ensure that a customer understood the products and risks of UITs before buying them.
According to his FINRA Broker Report (CRD), prior to working at Chase Investment Services Corp, Barry Donald was a registered representative with Banc One Securities Corporation, a registered broker-dealer based in Chicago, Illinois, and Horwitz & Associates, Inc., a registered broker-dealer based in Riverwoods, Illinois.
If you have questions regarding investments you made with Barry Michael Donald or Chase Investment Services Corp., or if you believe that you have been the victim of a securities fraud, The White Law Group may be able to help. The White Law Group is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida. The firm has over 30 years of experience in securities litigation matters and handles matters throughout the country and Illinois, including reviewing securities fraud cases in Morton, Peoria, Bloomington, Springfield, and Champaign. To contact the firm, please call 312-238-9650. Or, for more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.