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Donald Johns Allegedly Engaged in Excessive Trading

Donald Johns (CRD #: 4566047), a broker registered with SW Financial, is involved in a pending dispute, according to his BrokerCheck record, accessed on April 25, 2023. Read on if you have questions about his alleged conduct as a broker.

Investor Dispute

On March 3, 2023, Donald Johns was named in a dispute alleging unauthorized trading, negligence, excessive trading, and other violations of suitability. This pending dispute seeks $938,935 in damages.

FINRA Rule 3260

FINRA Rule 3260 restricts brokers from exercising their trading discretion outside pre-approved discretionary accounts, authorized by both their client and the firm.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consult the investor’s profile, which describes the following investor characteristics:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investment will be held)
  • Investing experience
  • Tax status

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

What qualifies as broker negligence?

Brokers may act in many negligent ways, ranging from misrepresenting material facts to engaging in excessive trading. Investors who have lost money through broker negligence may be able to recover their funds by pursuing FINRA arbitration.

Tax Lien

On April 29, 2016, Donald Johns incurred a tax lien of $21,455.82.

Background Information

Donald Johns has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Donald Johns is a registered broker in 26 states and the District of Columbia.

He has also worked for the following firms:

  • Arive Capital Markets (CRD#:8060)
  • Westpark Capital (CRD#:39914)
  • Woodstock Financial Group (CRD#:38095)
  • Primex (CRD#:29394)
  • Newport Coast Securities (CRD#:16944)
  • Hunter Scott Financial (CRD#:45559)
  • Sterne Agee Financial Services (CRD#:18456)
  • Emmett A Larkin Company (CRD#:6625)
  • Salomon Grey Financial (CRD#:43413)

Kurta Law Can Help

If you worked with Donald Johns and you have concerns about your investments, please contact us today at 877-600-0098 or 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 and 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.