(FINRA Case #2013039456301)
Jeffrey Paul Davis (CRD #2501354, Bristol, Connecticut) submitted an AWC (Accept, Waiver & Consent) in which he was fined $5,000 and suspended from association with any FINRA member in all capacities for one month. Without admitting or denying the findings, Davis consented to the sanctions and to the entry of findings that he recommended and effected unsuitable transactions totaling $566,000 in customer accounts by over-concentrating their assets in illiquid non traded Real Estate Investment Trusts (REITs).
The findings stated that these excessive concentrations in illiquid investments were unsuitable in light of the customers’ financial situations, risk tolerances and investment objectives.
The suspension was in effect from May 1, 2017, through May 31, 2017.
Davis was employed by Harvest Capital LLC from July 2001 until November 2013. He is currently employed at Kovack Securities Inc.
If you feel you have been misled or taken advantage by Jeffrey Paul Davis or any Broker and wish to discuss legal action, please contact Darren Blum at 1-877-786-2552 (1-877-STOCK LAW), www.stockattorneys.com for a free consultation.