February 17, 2017 Comments (0) Current Investigations

Daryl E. Allison Barred from Securities Industry

Daryl E. Allison
(Last Updated On: February 17, 2017)

Concerned about investment losses with Daryl E. Allison and Caprock Securities?

Have you suffered losses investing with Daryl E. Allison and Caprock Securities? If so, The White Law Group may be able to help you recover your losses through FINRA arbitration.

According to FINRA, Daryl E. Allison (CRD #3686, Lubbock, Texas) was fined $10,000 and barred from association with any FINRA member in any principal capacity. While registered with Caprock Securities, a FINRA member firm, Allison allegedly failed to supervise two registered representatives’ offers and sales of closed-end mutual funds to customers. FINRA alleges that the closed-end mutual fund transactions were possibly unsuitable for the customers.

The findings stated that Allison failed to enforce the firm’s WSPs, failed to conduct document inspections, and was charged with several other supervisory failures.

For FINRA’s full findings see FINRA Case #2014039096601.

According to his FINRA BrokerCheck, Allison was registered with Caprock Securities, Inc. in Lubbock, Texas from 06/24/1980 – 11/10/2015. He has seven disclosures listed on his Broker Report.

Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules and they can held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.

Additionally, brokerage firms are required to perform adequate due diligence on any investments they recommend. They must ensure that all recommendations that are made are suitable in light of that client’s age, investment experience, net worth, investment objectives, and time horizon. If a firm permits unsuitable investments to be made, the firm can be held responsible for the losses in a FINRA arbitration claim.

Free Consultation

If you suffered losses investing and would like to speak to a securities attorney to determine if your brokerage firm may be liable for your investment losses, please call the securities attorneys of The White Law Group at 888.637.5510 for a free consultation.

This information is provided by The White Law Group, a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.