Ryan Matthew Davis (Ryan Davis) – Broker Ryan Davis Suspended from Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Ryan Davis was a previously licensed financial advisor with Wells Fargo. According to FINRA, Ryan Davis was suspended from the securities industry for 18 months in July 2020.
According to FINRA Allegations:
Davis consented to the sanctions and to the entry of findings that he engaged in undisclosed outside business activities without providing written notice to his member firm through his creation of, ownership in, and management of limited liability companies and a limited partnership established to trade cryptocurrencies, and a limited liability company established to trade commodity futures. The findings stated that as compensation, Davis expected to receive a portion of the net profits generated from the entities’ cryptocurrency trading and from the commodities trading. However, no profits were generated.
The findings also stated that Davis participated in private securities transactions without providing prior written notice to his firm. Davis marketed investment pools to others through two of the companies trading cryptocurrencies. The findings also included that Davis intentionally provided false information to his firm to conceal his outside business activities and private securities transactions. Davis provided false answers to questions on his firm’s annual compliance questionnaires. Each questionnaire asked Davis, among other questions, whether he was engaged in any outside activity.
Davis falsely answered no to the question on each questionnaire, notwithstanding that he was engaged in the outside business activity through his commodity futures company. Davis also provided false information to his firm when it initially questioned him about his outside activities.
At that time, Davis initially claimed that each outside business was a mockup and not an active business, and that none of the entities had any investor funding at any point. In a subsequent written statement to the firm, Davis falsely claimed that his commodity futures company was merely hypothetical and designed to enhance his professional profile. Davis falsely claimed to have withdrawn all involvement with the outside businesses and stated that he paid the states of incorporation to disassociate his name with these entities, which assertion was also false.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Ryan 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 Ryan 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 Ryan 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.
Some of the information in this blog post was obtained on 12/18/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.