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David Spellman is the Subject of Deceptive Trading Practice Allegations

David Spellman (CRD #: 6784263), a broker registered with Money Concepts Capital Corp, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on February 2, 2024. Keep reading if you have concerns about his alleged conduct. 

On October 18, 2023, an investor alleged that David Spellman engaged in deceptive trading practices and violated Chapter 541 of the Texas Insurance Code. This section of the Texas Code prohibits unfair methods of competition and unfair or deceptive acts or practices. 

The investor is seeking $250,000. 

This is not the only dispute on his record involving insurance. On January 2, 2020, an investor alleged that David Spellman recommended a product because premiums would be tax deductible but the investor allegedly learned after consulting with an independent CPA that premiums were not deductible. The investor alleges she was given false information to influence her decision to purchase the policy. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Deceptive trading practices violat this rule.

Background Information 

David Spellman has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • Series 7TO General Securities Representative Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in Minnesota and Texas. He is also a registered investment adviser in Texas. 

Kurta Law Can Help 

If you have worked with David Spellman and you 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.