Former HD Vest advisor Donna Barnard reportedly barred after 14 customer disputes regarding Woodbridge investments.
Did you lose money investing with Donna Barnard and HD Vest Financial Services? If so, the securities attorneys at The White Law Group may be able to help you recover your losses through FINRA Arbitration.
According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred financial advisor Donna Barnard from the securities industry.
On July 6, 2018, FINRA staff reportedly sent Barnard a letter requesting documents and information, in connection with FINRA’s review of Barnard’s participation in sales of notes related to the Woodbridge Group of Companies LLC, a group of unregistered investment companies.
As stated in her counsel’s phone call with FINRA staff, and by this agreement, Barnard reportedly acknowledges that she received FINRA’s request and will not produce the documents and information requested. Consequently she has been barred from the securities industry.
According to her FINRA BrokerCheck report, Donna Barnard was registered with HD Vest Investment Services in Kilgore, Texas from August 2014 through May 2017. The report also indicates that she has 14 pending customer disputes listed on her broker report. Allegations include unsuitable trades in Woodbridge investments, and misrepresentation and failure to due diligence in regards to Woodridge investments, among others.
As we told you in December, Woodbridge Group of Companies filed for Chapter 11 bankruptcy during the U.S. Securities and Exchange Commission’s investigation of possible fraudulent sales of securities, according to court documents.
The company raised nearly $1 billion from about 11,000 investors, according to documents filed in the U.S. Bankruptcy Court in Delaware.
For FINRA’s full findings, see FINRA case number 2018057494201.
Failure to Supervise
The White Law Group is investigating the liability that Barnard’s employers may have for losses sustained by her clients. Brokerage firms are required to adequately supervise their agents to ensure they are complying with FINRA rules. If it is determined that the broker dealer failed to supervise their agent, they can be held responsible for losses in a FINRA arbitration claim.
If you suffered losses investing with Donna Barnard, the attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. 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, please visit www.whitesecuritieslaw.com.