Bruce Davis Barred by FINRA

Bruce Davis (CRD #: 5602776), a broker formerly registered with Wells Fargo Clearing Services, has been barred by FINRA, according to his BrokerCheck record, accessed on January 12, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Bar by FINRA

On November 4, 2022, Bruce Davis consented to the entry of findings that he allegedly refused to provide documents and information requested by FINRA as part of an investigation into his alleged conversion of $206,000 in funds from Wells Fargo Clearing Services.

According to a Letter of Acceptance, Waiver & Consent (AWC), Wells Fargo Clearing Services alleged in a Uniform Termination Notice for Securities Registration (Form U5) that Bruce Davis was fired from the firm due to a failure to repay funds he mistakenly received from the firm and failed to respond to requests to return these funds.

On September 28, 2022, Bruce Davis allegedly informed FINRA that he would not produce the requested documents and information.

The AWC concluded that this alleged refusal to comply violated FINRA Rules 8210 and 2010.

FINRA Rule 8210

FINRA Rule 8210 requires members to supply records, information, and testimony upon request by FINRA.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

FINRA permanently barred Bruce Davis on November 4, 2022.

You can read a copy of the AWC here.

Background Information

Bruce Davis has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

He previously worked for the following firms:

• Wells Fargo Clearing Services (CRD#:19616)
• J.P. Morgan Securities (CRD#:79)
• Chase Investment Services (CRD#:25574)
• Morgan Stanley Smith Barney (CRD#:149777)
• Citigroup Global Markets (CRD#:7059)

Kurta Law Can Help

If you worked with Bruce Davis and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.