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Update: David Strnad Subject of FINRA Investigation Into Unauthorized Trading Allegations

David Strnad

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on November 13, 2018 indicate that former Tennessee-based Wells Fargo Advisors broker/adviser David Strnad, who is currently not affiliated with any broker-dealer firm, was recently named in a FINRA investigation into alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Strnad (CRD# 1982721).

David Strnad has spent 28 years in the securities industry and was most recently registered with Wells Fargo Advisors in Nashville, Tennessee (2016-2018). Previous registrations include Morgan Stanley in Franklin, Tennessee (2009-2016); Citigroup Global Markets in Orange, California (2005-2009); and Morgan Stanley DW in Purchase, New York (1989-2005). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on August 7, 1995; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 6, 1989; SIE (Securities Industry Essentials Examination), which he obtained on July 10, 2018; Series 3 (National Commodity Futures Examination), which he obtained on November 13, 1990; and Series 7 (General Securities Representative Examination), which he obtained on September 16, 1989. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received two customer complaints and was recently named in a FINRA investigation into alleged rule violations.

In November 2018 FINRA issued a Wells Notice disclosing its “preliminary determination to recommend” disciplinary action against Mr. Strnad in connection to allegations he violated FINRA Rule 2010 by participating in unauthorized trading in the account of a firm client. The action remains pending.

In 2016 a customer’s daughter alleged David Strnad, while employed at Morgan Stanley, churned investments in the account. The complaint settled in 2017 for $89,646.

In 2003 a customer alleged David Strnad, while employed at Morgan Stanley, performed unauthorized transactions. The complaint settled for $30,000.

If you have lost money investing with David Strnad, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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