David Ferwerda barred by FINRA

David Ferwerda sold Woodbridge and 1 Global Capital Investments

David Ferwerda, a registered representative from Grand Rapids, Michigan, formerly with Signator Investors and Valic Financial Advisors, was barred from FINRA membership as a result of an investigation into his participation in a private securities transactions without obtaining his firm’s prior approval, which is a violation of FINRA rules. Ferwerda entered into an acceptance waiver and consent agreement with FINRA in which he neither admitted nor denied the findings, but was barred from FINRA.

In October, 2018 David Ferwerda agreed to the suspension, and FINRA published its findings that Ferwerda sold unregistered securities in the Woodbridge Group of Companies, as well as for 1 Global Capital.  Both of these companies collapsed over allegations that the firms were selling unregistered securities and paying existing investors distributions from funds raised from new investors.

In addition, on November 4, 2019 the North American Derivatives Exchange took disciplinary action against Ferwerda for failing to disclose the FINRA enforcement action and subsequent bar.  NADEX also found that Ferwerda failed to disclose an investigation by the Michigan Department of Licensing and Regulation into his sale of unregistered securities.

David Ferwerda’s registration and disciplinary history

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

David Ferwerda was registered with Signator Investors from September, 2012 through March, 2018 and with Valic Financial Advisors from January, 1999 to September, 2012.  According to FINRA’s CRD disclosure report, Ferwerda has been the subject of a customer complaint, one employment termination after allegations, and two regulatory investigations.

FINRA is the primary regulator for broker dealers and registered representatives in the United States. FINRA’s role is to promulgate standards and practices for the brokerage industry and to ensure compliance with its rules by licensed entities and individuals.

FINRA has two primary ways to ensure compliance with the securities laws: by means of an enforcement unit that investigates and disciplines wrongdoing, and through the establishment of an arbitration forum where investors can resolve disputes against broker dealers. FINRA’s arbitration forum, FINRA Dispute Resolution is the largest arbitration forum in the country for resolving investor disputes, and typically processes over 10,000 filings annually.

The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 26 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via unlawful and unsuitable investment transactions. During that time, we have recovered money for over one thousand individuals, pension plans, trusts, and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $50,000,000.

If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.