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FINRA Suspends Daniel Josey for Alleged Failure to Comply with Arbitration Agreement

Jun 10, 2022 FINRA Award

Daniel Josey (CRD #: 2189408), a broker previously registered with Wells Fargo Advisors Financial Network, has been suspended from FINRA, according to his BrokerCheck record, accessed on June 3, 2022. Keep reading if you have questions about Daniel Josey’s conduct as a broker.

Suspension from FINRA

On May 13, 2022, Daniel Josey was suspended from FINRA for allegedly failing to comply with an arbitration award or to adequately provide information regarding the status of his compliance.

The arbitration award alleges that Daniel Josey breached a Promissory Note for Enhanced Loan and a Promissory Note for Working Capital Loan dated February 7, 2013.

The award found Daniel Josey liable and ordered him to pay Wells Fargo $509,276.90 plus interest.

By allegedly failing to respond to FINRA requests as to the status of his compliance with this award, Daniel Josey was suspended under FINRA Rule 9554.

FINRA Rule 9554

FINRA Rule 9554 penalizes members with suspension or cancellation of membership if they fail to pay settlements or otherwise comply with arbitration agreements. Members have 21 days after receiving notice to request a hearing or request for an end of the suspension—if they don’t, the suspension or cancellation becomes final.

Sanctions

On May 13, 2022, Daniel Josey was indefinitely suspended from FINRA, with the stipulation that this suspension will continue until payment is made or his obligation is discharged.

You can read the full arbitration award here.

Background Information

Daniel Josey 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

He has also worked for the following firms:

  • Wells Fargo Advisors Financial Network (CRD#:11025)
  • Raymond James & Associates (CRD#:705)
  • J.J.B. Hilliard, W.L. Lyons (CRD#:453)
  • Salomon Smith Barney (CRD#:7059)
  • Lehman Brothers (CRD#:7506)

Kurta Law Can Help

If you worked with Daniel Josey 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.