Financial Advisor Donald S. Woods, LPL Financial, Louisville, KY
Donald S. Woods Reportedly Suspended from the Securities Industry
According to the Financial Industry Regulatory Authority (FINRA), the regulator has reportedly suspended financial advisor Donald Woods for six months. In addition to the suspension he was reportedly fined $10,000.
According to Letter of Acceptance, Waiver & Consent, from June 2014 to June 2015, according to FINRA Woods allegedly violated FINRA Rules by submitting applications for real estate investment trusts (“REITs”) that purportedly inflated the customers’ net worth.
Further, Woods purportedly violated FINRA Rules 2111 and 2010 because allegedly “he did not have a reasonable basis for recommending that the customers purchase the REITs, which were inconsistent with the customers’ investment profiles.”
According to his FINRA BrokerCheck report, Woods was registered with LPL Financial from 2010 until 2017. He reportedly has 12 customer complaints indicated by his broker report. Allegations reportedly include misrepresentation and unsuitable investment recommendations, among others. His broker report states that Woods is not currently registered as a broker.
Free Consultation with a Securities Attorney
When brokers abuse client accounts or conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
If you are concerned about investments with Donald S. Woods, the securities attorneys of The White Law Group may be able to help you. For a free consultation with a securities attorney, please call 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.