Donald Logan – Waddell & Reed – Silverdale, Washington
According to the Financial Industry Regulatory Authority (FINRA), the regulator has reportedly suspended Donald Logan (CRD #5537486) from acting as a broker for 18 months and fined him $25,000.
FINRA states in the Letter of Acceptance, Waiver and Consent, that Logan consented to the sanctions and to the entry of findings that he allegedly exercised discretionary trading authority in customer accounts without obtaining prior written authorization from his customers or prior written approval from his member firms.
The findings further stated that Logan purportedly executed unauthorized transactions in customer accounts without their knowledge or consent. The findings also allege that Logan caused customers to sign blank or incomplete account-related forms, intending to later use them in connection with customer transactions.
The findings also included that Logan allegedly willfully failed to timely amend his Form U4 to disclose civil judgments and a compromise with a creditor and never disclosed one judgment.
According to his FINRA BrokerCheck report, Logan was reportedly most recently registered with Waddell & Reed in Silverdale, Washington from October 2015 until he was allegedly dismissed in October 2018 for “POSSESSION OF MULTIPLE BLANK CLIENT-SIGNED FORMS AND ALTERED CLIENT-SIGNED DOCUMENTS, IN VIOLATION OF THE FIRM’S POLICIES.”
Prior to that, he was reportedly employed by Edward Jones in Silverdale, Washington from August 2008 until he was allegedly discharged in July 2015 because he “VIOLATED FIRM’S POLICY REGARDING DISCRETIONARY ORDERS.”
For FINRA’s full findings, see FINRA case # NO. 2015046378601.
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This information is all publicly available on FINRA’s website and provided to you by The White Law Group.
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