Donna Phelps Allegedly Executed Unauthorized Stock Purchases
Donna Phelps (CRD #: 3160013), a broker registered with Edward Jones, allegedly executed unauthorized transactions, according to her BrokerCheck record, accessed on February 16, 2023. If you have questions about her alleged conduct as a broker, keep reading.
Investor Dispute
On January 19, 2023, an investor alleges that Donna Phelps executed unauthorized purchases of individual stocks. This dispute was denied by the firm.
However, investors should be aware that firms don’t need to permit an outside review before denying a dispute. Investors can still seek out FINRA arbitration following a denial and may be able to recover their funds.
FINRA Rule 3260
Unauthorized trading violates FINRA Rule 3260, which limits brokers to engaging in discretionary trading only in pre-authorized accounts. Both the firm and the client must approve an account before discretionary trading can occur.
Background Information
Donna Phelps has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Donna Phelps is a registered broker in 12 states and a registered investment adviser in Texas.
Kurta Law Can Help
If you worked with Donna Phelps and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.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.