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David Newman: Received Two Regulatory Sanctions by FINRA

David NewmanPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 14, 2016 indicate that former Oklahoma-based First Western Securities broker David Newman has been sanctioned by FINRA. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Newman (CRD# 1407201).

David Newman has spent thirty years in the securities industry and was most recently registered with First Western Securities in Duncan, Oklahoma (2008-2016). Previous registrations include Raymond James Financial Services in Duncan, Oklahoma (1992-2008) and AG Edwards & Sons in St. Louis, Missouri (1985-1992). He is currently not registered with any state or firm.

According to his BrokerCheck report, David Newman has received two regulatory sanctions.

In August 2016 the Oklahoma Department of Securities permanently barred David Newman following allegations he “engaged in dishonest and unethical practices in the securities industry, violated FINRA rules in Oklahoma, and recommended the purchase of promissory notes that were unsuitable for customers.”

In May 2016 FINRA sanctioned David Newman following allegations he “participated in undisclosed private securities transactions by introducing his customers to an outside investment that turned out to be part of a fraudulent scheme perpetrated by another individual” and “participated in these transactions without providing notice to, or receive permission from, the member firm with which he was registered, and he falsely certified to the firm that he had not participated in any private securities transactions.” He was issued a 15-month suspension as well as fines and disgorgement exceeding $100,000.

If you or someone you know has complaints regarding David Newman, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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