Dallas TX broker and radio host Daniel Levin suspended by FINRA

In October, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that Daniel Levin of Dallas, Texas submitted a letter of Acceptance, Waiver and Consent in which he was assessed a deferred fine of $25,000, suspended from association with any FINRA member in any capacity for six months and required to requalify as a general securities representative by passing the Series 7 examination prior to associating with any FINRA member firm in that capacity following the six-month suspension.

Without admitting or denying the findings, Daniel Levin consented to the sanctions and to the entry of findings that he hosted a weekly radio show during which he made statements that were unbalanced, promissory, misleading and/or lacked reasonable basis. The findings stated that Daniel Levin utilized the show to market his retirement planning business. During the shows, Levin repeatedly touted the benefits of investing in equity-indexed annuities (EIAs), although he did not mention this product by name. Instead, Levin only generically described the positive features and characteristics of the EIAs that he was selling to his customers. Levin also made unwarranted performance projections without disclosing that they were dependent on the performance of an index.

The suspension is in effect from August 17, 2015, through February 16, 2016.

Daniel Levin’s registration and disciplinary history

In order to lawfully sell investments to the public, one must either be registered or exempt from registration.

Daniel Levin was registered with:

01/2014 – 08/2014
TITAN SECURITIES (CRD# 131392) – Dallas, TX
06/2012 – 09/2012
BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC. (CRD# 13609) – DALLAS, TX
12/2004 – 06/2012
MILKIE/FERGUSON INVESTMENTS, INC. (CRD# 17606) – DALLAS, TX
07/2003 – 12/2004
WACHOVIA SECURITIES, LLC (CRD# 19616) – ST. LOUIS, MO
04/2000 – 07/2003
PRUDENTIAL SECURITIES INCORPORATED (CRD# 7471) – NEW YORK, NY
12/1995 – 04/2000
PAINEWEBBER INCORPORATED (CRD# 8174) – WEEHAWKEN, NJ
07/1993 – 01/1996
SMITH BARNEY INC. (CRD# 7059) – NEW YORK, NY
02/1988 – 07/1993
LEHMAN BROTHERS INC. (CRD# 7506) – NEW YORK, NY
04/1980 – 02/1988
E. F. HUTTON & COMPANY INC (CRD# 235)

According to FINRA’s CRD disclosure report, Daniel Levin has been the subject of fourteen customer complaints and three regulatory investigations.

The Law Office of David Liebrader practices exclusively in the field of investment loss recovery and our securities attorneys have successfully resolved over 1000 investment loss cases over the past 20 years. Recoveries for clients top $40 million. The types of claims we have successfully handled include those involving unsuitable investments (suitability claims), excessive trading or “churning”, misrepresentations and omissions, unauthorized trading, over-concentration of illiquid or overly risky investments, pump and dump scams involving “penny stocks”, direct participation programs (private placements) involving real estate investment trusts (REITS), oil and gas exploration programs, leasing equipment deals and receivable financing, promissory notes whether sold through a broker dealer or as part of the outside business activities of a registered representative, ponzi scheme losses, failure on the part of the broker dealer to perform due diligence, state securities law (blue sky) violations and failure to supervise.

Investment losses can be recovered through a process known as FINRA arbitration. FINRA regulates broker dealers that sell investments, and provides an arbitration forum to resolve investor disputes. Investors can pursue claims against their brokerage firms in the FINRA arbitration forum. Common claims in the forum are those for suitability, breach of fiduciary duty, misrepresentations and omissions, negligence, violation of FINRA rules, state and federal securities laws violations, elder abuse, breach of contract and failure to supervise. On average, the recovery process takes approximately a year, from start to finish.

FINRA’s rules require that all investment recommendations made by licensed financial advisors be suitable in light of a customer’s needs, objectives and risk tolerance. In addition, all registered representatives are required to be properly supervised, with periodic inspections and reviews by qualified supervisors, whose job it is to vigorously investigate suspicions of wrongdoing (red flags).

If you have suffered investment losses please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation