Lyle Wesley Davis – Financial Advisor/Broker Lyle Wesley Davis Suspended from Securities Industry | Recover Investment Losses

Lyle Wesley Davis – Financial Advisor/Broker Lyle Wesley Davis Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses

Lyle Wesley Davis CRD #62352

Lyle Wesley Davis is a licensed financial advisor with Wilson-Davis & Co., Inc.

According to FINRA, Lyle Wesley Davis was fined $30,000 and suspended from the securities industry for 3 months beginning in August 2021.

According to FINRA Allegations:

Davis was named a respondent in a FINRA complaint alleging that he failed to establish, maintain, and enforce a supervisory system, including WSPs, reasonably designed to achieve compliance with applicable securities laws, regulations, and FINRA rules. The complaint alleges that Davis, his member firm, and other designated supervisors failed to reasonably supervise a registered representative’s trading by ignoring various red flags of potentially manipulative trading set forth in his member firm’s WSPs that also failed to establish how the firm’s trading activity should be supervised to detect and prevent manipulative trading. In practice, no one at the firm was conducting a reasonable review of microcap liquidation and trading activity to detect and prevent manipulative trading, including the representative’s manipulative trading activity involving a company. The complaint also alleges that Davis and his firm provided false and misleading information to FINRA by providing a false and misleading spreadsheet purporting to represent a contemporaneous annotated record of the firm’s and Davis’s daily review and supervision of the firm’s trading activity in the company, when, in fact, no such responsive documents existed.

Goodman & Nekvasil, P.A. May Recover Investor Losses:

If you lost money on investments with Lyle Wesley Davis and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Lyle Wesley Davis’ conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $200 million on behalf of victimized investors. If you lost money on investments with Lyle Wesley Davis and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.

Contact Us Today!

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