Donovan Leighton Allegedly Sold Stocks Without Client’s Authorization
Donovan Leighton (CRD #: 6025118), a broker registered with FBL Marketing Services, allegedly executed an unauthorized sale, according to his BrokerCheck record, accessed on April 21, 2023. Investors may have also worked with him through FBL Wealth Management. Read on to learn more about his alleged conduct as a broker.
On March 7, 2023, an investor filed a dispute alleging that Donovan Leighton executed an unauthorized sale of stocks, resulting in large capital gains and a $60,000 tax bill for the client. They sought $60,000 in damages but the dispute was denied by the firm.
However, investors should be aware that firms don’t need to allow an outside review before denying disputes. Investors can still seek out FINRA arbitration and potentially recoup their losses following a denial.
FINRA Rule 3260
FINRA Rule 3260 limits brokers to exercising their trading discretion in pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm.
On May 24, 2017, Donovan Leighton discharged a bankruptcy.
Donovan Leighton has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Donovan Leighton is a registered broker and a registered investment adviser in Illinois, Kansas, and Oklahoma.
He has also worked for Equitable Advisors (CRD#:6627) and Edward Jones (CRD#:250).
Kurta Law Can Help
If you worked with Donovan Leighton and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.