David Endom Censured and Fined by SEC

David Endom (CRD #: 5183364), a broker formerly registered with BB&T Securities, has been censured by the SEC, according to his BrokerCheck record, accessed on January 12, 2025. Keep reading if you have questions about his alleged conduct as a broker.
SEC Censure
On November 26, 2024, the Securities and Exchange Commission filed cease-and desist proceedings against David Endom and Level Field Charter Partners, where he acted as co-founding partner.
The SEC alleged that Level Field Charter Partners was not registered as a municipal advisor from 2019-2022, during which time it allegedly provided municipal advisory services to four charter schools with regard to six municipal bond issuances. These services allegedly included advising the schools on the structure, timing, and terms of these issuances.
Further, Level Field Charter Partners allegedly represented in its engagement agreements with these schools that it held all the licenses, permits, and certifications required to perform its obligations, and that it was in full compliance with relevant laws, rules, and regulations.
The SEC alleged that Level Field Charter Partners violated the registration requirements of Section 15B(a)(1)(B) of the Securities Exchange Act of 1934 and that David Endom caused this violation.
The SEC further alleged that Level Field Charter Partners and David Endom did not deal fairly with their clients by failing to disclose material facts related to their registration status in violation of Rule G-17 of the Municipal Securities Rulemaking Board and by extension Section 15B(c)(1) of the Securities Exchange Act of 1934.
Securities Exchange Act of 1934
Section 15B(a)(1)(B) of the Securities Exchange Act prohibits municipal advisors without registration from providing advice to or on behalf of municipal entities with regard to municipal financial products or the issuance of municipal securities.
Section 15B(c)(1) of the Securities Exchange Act of 1934 prohibits brokers, dealers, and municipal securities dealers from inducing the purchase or sale of municipal securities and providing advice in contravention of MSRB rules.
MSRB Rule G-17
MSRB Rule G-17 requires brokers, dealers, and municipal securities dealers and advisors to engage in fair dealing and prohibits them from engaging in unfair and deceptive practices.
Sanctions
The SEC censured David Endom and ordered him to cease and desist from violations of Section 15B(a)(1)(B) and Section 15B(c)(1) of the Securities Exchange Act of 1934 and MSRB Rule G-17.
David Endom was also fined $40,000.
Background Information
David Endom has passed the following exams:
- Securities Industry Essentials Examination – SIE
- Investment Banking Registered Representative Examination – Series 79
- General Securities Representative Examination – Series 7
- Uniform Securities Agent State Law Examination – Series 63
He previously worked for the following firms:
- BB&T Securities (CRD#:142785)
- MCMG Capital Advisors (CRD#:103871)
- Harris Williams & Company (CRD#:113930)
Kurta Law Can Help
If you worked with David Endom 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 that 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.