Dale Ramsperger Suspended By FINRA Following Allegations of an Undisclosed Transaction
Dale Ramsperger (CRD #: 1601669), a former investment advisor and broker with DMK Advisor Group, INC and Securities America, INC, is the subject of a FINRA suspension, according to his BrokerCheck record, accessed on October 14, 2021.
This suspension stems from allegations related to participating in a private securities transaction without prior written disclosure to his firm in violation of FINRA Rules 3280 and 2010.
Keep reading for more information.
FINRA Letter of Acceptance, Waiver, and Consent Agreement
According to an Acceptance, Waiver, and Consent agreement dated August 27, 2021, Dale Ramsperger consented to the findings that he participated in a private securities transaction totaling $250,000 without prior written disclosure to his firm, in violation of FINRA Rules 3280 and 2010.
Dale Ramsperger’s Allegedly Undisclosed Private Securities Transaction
FINRA indicated that the matter originated from reviewing Form U5 that Securities America, INC filed for Dale Ramsperger on January 13, 2020.
According to FINRA, Dale Ramsperger allegedly recommended investments in promissory notes valued at $250,000 of a media company in which Dale Ramsperger was a minority shareholder.
The AWC states that Dale Ramsperger reportedly failed to disclose this to his former brokerage firm, Securities America INC. Therefore, Dale Ramsperger violated FINRA Rules 3280 and 2010.
You can read a copy of the AWC here.
FINRA Rules 3280 and 2010
FINRA Rule 3280 states that prior to participating in any private securities transaction, an associated person shall provide written notice to the member with which he is associated describing in detail the proposed transaction and the person’s proposed role therein and stating whether he has received or may receive selling compensation in connection with the transaction.
A violation of FINRA Rule 3280 is also a violation of FINRA Rule 2010, which requires associated persons, in the conduct of their business, to observe high standards of commercial honor and just and equitable principles of trade.
FINRA Suspension and Fine
As part of the terms of the AWC, Dale Ramsperger consented to a five-month suspension. In light of Dale Ramsperger’s financial status, no monetary sanction was imposed.
On January 10, 2020, Securities America fired Dale Ramsperger following allegations that he failed to follow company policy with respect to borrowing money from customers or prospective customers.
Dale Ramsperger Background Information
Dale Ramsperger has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
- Series 24 – General Securities Principal Examination
Dale Ramsperger has worked with the following firms:
- DMK Advisor Group, INC. (CRD#:41067)
- Securities America, INC. (CRD#:10205)
- Titan/Value Equities Group, INC. (CRD#:6359)
- Value Equities Corporation (CRD#:13316)
- Principal Investors Corporation (CRD#:11216)
Kurta Law Can Help
If you have been victimized after working with Dale Ramsperger, don’t hesitate to contact us today at 877-600-0098 or email@example.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors 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.