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Donald Tang Suspended by FINRA Over Alleged Undisclosed Outside Businesses

Donald Tang (CRD #: 1805501), a broker registered with Roselaine Securities, was recently suspended by FINRA, according to his BrokerCheck record, accessed on October 3, 2022. Keep reading to learn more about his conduct as a broker.

Suspension by FINRA

On July 6, 2022, Donald Tang consented to the entry of findings that he allegedly engaged in outside business activities without providing prior written notice to his firm, Roselaine Securities.

According to a Letter of Acceptance, Waiver & Consent (AWC), Donald Tang allegedly served as the owner and managing member of four LLCs, each owning an investment property, from February 2004 to May 2020. He allegedly received a combined annual income of $100,000 to $200,000 from renting out three of these LLCs and expected to profit from appreciation on the value of the fourth investment property.

Donald Tang began working for Roselaine Securities in July 2015, but allegedly did not disclose these LLCs to the firm until May 2020, following inquiries from FINRA.

The AWC concludes that these alleged activities constitute violations of FINRA Rules 3270 and 2010.

FINRA Rules 3270 and 2010

FINRA Rule 3270 requires brokers to provide their firm with written notice before they engage in any business activities beyond their role as a broker.

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


Donald Tang consented to the following sanctions:

  • $5,000 fine
  • 30-calendar-day suspension

His suspension ran from August 1 to August 30, 2022.

You can read a copy of the AWC here.

Other business activities

Donald Tang’s detailed BrokerCheck page lists the following outside business activities.

Media Companies

He is CEO/Chairman of the Board of Tang Media Partners Limited, an entertainment producer and distributor. As CEO of Tang Media Partners, he also provides supervision to the following companies and is an authorized signatory unless otherwise specified:

  • Tang Media Partners LLC, where he is not listed as an authorized signatory
  • IMG Distribution, Inc., a film distributor
  • IM Global Television Distribution LLC, a TV distributor
  • Tang Media Partners China Limited, a film producer and distributor
  • TMPL Television Holdings LLC, where he is a manager but not listed as an authorized signatory
  • Tang Media Productions LLC, a film rights administration company
  • TMP TV Financing Fund, L.P., a TV producer and distributor
  • TMP TV Financing Fund (US), Inc., a TV producer and distributor
  • TMP TV Financing Management LLC, film producer and distributor
  • Tang Film Financing Fund I, L.P. & Tang Film Financing Fund (US), Inc., film producer and distributor

As CEO of Tang Media Partners, also supervised the closing of the following companies:

  • Contech Television LLC
  • IM Global, LLC, a film distributor
  • Global Road Entertainment LLC

Investment-Related Activities

Donald Tang engages in the following investment-related business activities: 

  • Member/manager of Daley & Tang LLC, a strategic advisory company.
  • Manager of Tang and Partners LLC, an owner of shares of Tang Media Partners Limited. He administers the ownership of an investment in the common shares of Tang Media Partners Limited.
  • Managing member of DJT Development LLC, the holding company of Roselaine Securities.

Real estate holding companies

Donald Tang serves as managing member for the following real estate holding companies, which administer the entities which own the titles to certain properties:

  • JDT Properties LLC, for a property in Las Vegas, Nevada.
  • LHH LLC, for a property in La Habra Heights, California.
  • Tang Maui Andaz LLC, for a property in Maui, HI property.
  • Tang Wailea Penthouse, formerly for a property in Maui, Hawaii.
  • Tang Wailea Properties, currently for a property in Maui, Hawaii.

Miscellaneous business activities

He also participates in the following miscellaneous business activities:

  • Manager of Roselaine, LLC, a consulting company. He provides advisory services not related to securities.
  • Trustee on the board of the California Institute of Technology.


On September 6, 2018, Donald Tang filed for bankruptcy.

Background Information

Donald Tang has passed the following exams:

  • 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)
  • Series 24 – General Securities Principal Examination

Donald Tang is a registered broker in California and Illinois.

He has also worked for the following firms:

  • Guggenheim Securities (CRD#:40638)
  • CSI Strategic Partners (CRD#:150940)
  • Evercore Group (CRD#:42405)
  • Bear, Stearns & Company (CRD#:79)
  • Lehman Brothers (CRD#:7506)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)

Kurta Law Can Help

If you worked with Donald Tang 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. 

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