On June 25, 2013, the Financial Industry Regulatory Authority (FINRA) agreed to a Letter of Acceptance, Waiver and Consent in which Dennis F. Wright was permanently barred from the securities industry.
Without admitting or denying the findings, Wright consented to the described sanctions that allege he refused to provided FINRA with documents and information in connection with an investigation into “possible conversion of customer funds.” In addition, the findings allege that Wright failed to appear for on ‘the-record testimony as requested by FINRA.
According to Wrights Broker Check report, he has been a registered broker with AXA Advisors since 1983. In the report, a client alleges that she gave Wright a check in the amount of $124.043.60 with the intent that he was going to invest that money into another account with AXA. The firm agreed to pay the alleged misappropriated funds in the settlement amount of $100,000. However, this was one of many disclosure events found in the report. As a result of similar allegations, AXA has agreed to pay misappropriated funds to settle 12 different customer complaints.
This information which is publicly available on FINRA’s website has been provided by The White Law Group, LLC.
If you have questions about investments you made with Dennis F. Wright., the securities attorneys of The White Law Group may be able to help. To speak with a securities attorney, please call the firm’s Chicago office at 312-238-9650.
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 Boca Raton, Florida.
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