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David Janny is Facing Allegations of Unauthorized Trades

David Janny (CRD #: 1272727), a broker registered with Ameriprise Financial Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on February 26, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations

On February 12, 2024, an investor alleged that David Janny executed unauthorized options trades. The investor is seeking $500,000. 

FINRA Rule 3260 – Unauthorized Trading

FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.

Options Trading

Options trading strategies are often unsuitable because they are speculative and therefore likely to lose money. Depending on what type of options contract the investor buys, the investor is placing a bet that the price of a stock will either increase or decrease.

Previous Investor Disputes

On November 22, 2023, investors alleged that David Janny executed an excessive number of trades. The investors are seeking $5,000,000. 

Allegations filed on March 5, 2018, also alleged that David Janny executed aggressive trades without the investor’s consent. The dispute was denied, but investors should know that firms can deny disputes without an external review. Investors may be able to recover their losses after a denial by pursuing FINRA arbitration.

Background Information 

David Janny 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 3 National Commodity Futures Examination 
  • Series 7 General Securities Representative Examination 
  • Series 8 General Securities Sales Supervisor Examination (Options Module & General Module) 

He is a registered broker in 22 states he a registered investment adviser in Connecticut and Texas. 

During his 39 years of experience, David Janny has registered with the following firms: 

  • Ameriprise Financial Services (CRD #: 6363) 
  • Morgan Stanley (CRD #: 149777) 
  • UBS Financial Services (CRD #: 8174) 
  • Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 

Kurta Law Can Help 

If you have worked with David Janny and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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 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. Do not let securities fraud go unchecked. Start your recovery process today.