David Lerner is the Subject of a FINRA Fine and Suspension
David Lerner (CRD #: 1883553), a broker registered with Madison Global Partners in Hauppauge, New York, is the subject of a FINRA regulatory action. This disclosure appears on his BrokerCheck record, accessed on August 23, 2024.
Investors should know that in addition to this regulatory action, David Lerner has ten investor disputes on his record.
Regulatory Action
On July 25, 2024, David Lerner entered into an Acceptance, Waiver and Consent agreeement (AWC), in which he consented to the findings that he caused his firm to not capture or maintain communications by using a personal email account, which was not permitted by the firm.
He also allegedly sent and received securities-related business communications without providing copies to the firm. The findings alleged that these included discussions with customers about high-risk investments, including private investments in public equity (PIPE) deals.
Terms of the AWC
As part of the terms of the AWC, Seth Lerner consented to a $5,000 fine and a one-month suspension. You can read a copy of the AWC here.
FINRA Rule 4511
FINRA Rule 4511 requires firms to keep accurate and up-to-date books and records.
High Standards of Commercial Honor
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violating firm policies may violate this rule.
Background Information
David Lerner has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Series 79TO Investment Banking Registered Representative Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He is a registered broker in seven states.
During his 33 years of experience, David Lerner has registered with 10 firms. These are the four most recent:
- Madison Global Partners (CRD #: 285406)
- Network 1 Financial Securities (CRD #: 13577)
- Buckman, Buckman & Reid (CRD #: 23407)
- Broadband Capital Management (CRD #: 48001)
Kurta Law Can Help
If you worked with David Lerner and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.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 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.
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