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Kyle Davis, of Ameriprise, Involved in $500,000 Customer Dispute Over Trading

Kyle Davis (CRD#: 2995789), a registered representative with Ameriprise Financial Services, Inc. (CRD#: 6363) in Atlanta, Georgia is currently involved in a $500,000 customer dispute, according to his BrokerCheck record accessed on January 23, 2020.

Kyle Davis

On December 3, 2019, Kyle Davis became involved in a customer dispute. A client alleges that he engaged in fraud, acted negligently, and violated Section 10(b) of the Securities Exchange Act, among other allegations. The client alleges that the conduct occurred between October 4, 2012 and October 31, 2019. The client is requesting $500,000 in damages. The dispute is pending.

On March 4, 2008, a customer alleged Kyle Davis misrepresented the nature of an investment, telling them that auction rate securities were liquid investments. According to the Broker Comment section of BrokerCheck, “The firm has provided the client with a lending solution; claim otherwise denied.”

On December 29, 2005, a customer filed a complaint against Kyle Davis, alleging that Kyle Davis made unauthorized trades. The dispute settled for $11,386.20.

 

On April 20, 2007, a client filed a complaint against Kyle Davis. A client alleged that Kyle Davis failed to group accounts properly in order to grant the client breakpoint discounts, which would have provided the client a discount upon purchasing a large number of shares. The dispute settled for $11,868.64

 

On April 26, 2007, Kyle Davis consented to the findings of the National Association of Securities Dealers (NASD), the precursor to the Financial Industry Regulatory Authority (FINRA) that he traded securities in a customer’s account without the customer’s knowledge or authorization. As a result, he was fined $7,500 and suspended from the securities industry from May 21, 2007 to June 4, 2007. A copy of Kyle Davis’s Letter of Acceptance, Waiver, and Consent (AWC) can be viewed here. As a result of this suspension, on December 20, 2007, Kyle Davis “entered into consent to withdraw” his application for a securities license in Illinois and paid a fine.

 

Over his 22-year career in the securities industry, Kyle Davis has worked for five brokerage firms. In addition to his current role with Ameriprise Financial Services, Inc. (CRD#: 6363), he has also worked for:

  • Raymond James & Associates, Inc. (CRD#: 705)
  • Morgan Keegan & Company, Inc. (CRD#: 4161)
  • Morgan Stanley DW Inc. (CRD#: 7556)
  • VTR Capital, Inc. (CRD#: 21404) – expelled by FINRA on December 20, 2001

If Kyle Davis was your broker and you have concerns about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com for your free case consultation with a securities attorney.

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