Dennis Haywood Subject of Florida Regulatory Action

Dennis Haywood (CRD #: 5850275), a broker formerly registered with Crown Capital Securities,  is the subject of a pending state regulatory action, according to his BrokerCheck record, accessed on March 30, 2025. Read on to learn more about his alleged conduct as a broker.

Florida Regulatory Action

On February 24, 2025, the State of Florida, Office of Financial Regulation alleged that Dennis Haywood failed to amend his Uniform Application for Securities Industry Registration or Transfer (Form U4) to disclose a written complaint in a timely manner. This regulatory action is currently pending.

Investor Disputes

On April 5, 2024, several investors named Dennis Haywood in allegations of failure to supervise, breach of contract, material misrepresentation, and violation of the suitability rule in connection with recommendations of alternative investment products. The clients seek $100,000 in damages in this pending dispute.

Disputes filed on April 18, 2022, and April 14, 2021, investors alleged that Dennis Haywood recommended unsuitable investments, made material misrepresentations and failed to perform his due diligence with regard to alternative investments. These disputes were settled for a total of $145,000.

On July 23, 2020, multiple investors alleged that Dennis Haywood failed to perform his due diligence before making unsuitable recommendations of non-traded real estate investment trusts (REITs) and non-traded Business Development Companies (BDCs). They further alleged he misrepresented and omitted material facts. Investors received a settlement of $55,000.

On May 13, 2020, investors alleged that Dennis Haywood sold them alternative investments that underperformed. The client received a settlement of $160,000.

In a dispute filed on April 13, 2020, an investor alleged that Dennis Haywood made unsuitable recommendations and breached his contract with regard to four alternative investments. The investor sought $400,0000; the dispute was settled for $95,000.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of information, such as an investment’s limitations, requirements, or potential returns.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their age, tax status, and other investments.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Dennis Haywood Background Information

Dennis Haywood has passed the following exams:

• Series 65 Uniform Investment Adviser Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 General Securities Representative Examination

Dennis Haywood has previously registered with Crown Capital Securities (CRD #: 6312) and Newport Coast Securities (CRD #: 16944).

Kurta Law Can Help

If you worked with Dennis Haywood and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email jkurta@kurtalawfirm.com.