Donald Wallace Involved in a $450,000 Investor Dispute
Donald Wallace (CRD #: 1471984), a broker registered with D.H. Hill Securities, is facing allegations that he violated securities rules and regulations. This is according to his BrokerCheck record, accessed on July 19, 2023. Concerned investors should keep reading.
On May 30, 2023, investors alleged that Donald Wallace engaged in misrepresentation and recommended an unsuitable product. They further allege inadequate due diligence. Investors are seeking to recover $450,000 in this pending dispute.
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 potential returns, risks, or limitations.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:
- Financial goals
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
Investors who believe they suffered losses following unsuitable recommendations may be able to recover losses through FINRA arbitration.
Donald Wallace has passed the following exams:
- Series 66 Uniform Combined State Law Examination
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Exaination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
- Series 24 General Securities Principal Examination
He is a registered broker in Florida, Georgia, Ohio, Oklahoma, and Virginia. He is also a registered investment adviser in Florida, Georgia, Ohio, and Virginia.
Donald Wallace has worked for the following firms:
- Money Armour (CRD #: 150687)
- Financial West Group (CRD #: 16668)
- D.H. Hill Advisors (CRD #: 116324)
- Cambridge Investment Research Advisors (CRD #: 134139)
- Cambridge Investment Research (CRD #: 39543)
- Centaurus Financial (CRD #: 30833)
- Platinum Financial (CRD #: 120213)
- Sterling Enterprises Group (CRD #: 44915)
- QA3 Financial LLC (CRD #: 104957)
- QA3 Financial Corp (CRD #: 14754)
- Uvest Financial Services Group (CRD #: 13787)
- SII Investments (CRD #: 2225)
- Royal Alliance Associates (CRD #: 23131)
- Integrated Resources Equity (CRD #: 6403)
- American Express Financial Advisors (CRD #: 6363)
Kurta Law Can Help
If you worked with Donald Wallace and you have concerns about your investments, please contact us today at 877-600-0098 or email@example.com 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.