John Darrick Atchison, Registered Rep with Davenport & Company, LLC Has Been Sanctioned by FINRA for Unauthorized Trading In Customer Accounts
Publicly available records recently provided by the Financial Industry Regulatory Authority (FINRA) indicate that Virginia-based Davenport & Company, LLC broker/advisor John Darrick Atchison (CRD # 1284207) was sanctioned by FINRA’s Department of Enforcement for securities fraud relating to customer accounts. The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints of securities fraud regarding Mr. Atchison.
Mr. Atchison has been registered in the securities industry since 1984 and has been registered with Davenport & Company, LLC (CRD # 1588) since 1994. His prior registrations include Prudential Securities Incorporated (CRD # 7471) from December 1987 to November 1994 and E.F. Hutton & Company Inc. (CRD # 235) from July 1984 to January 1988.
FINRA’s Findings and Conclusions of Securities Fraud
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated July 30, 2019, Mr. Atchison consented to sanctions regarding securities fraud in customer accounts without admitting or denying the following findings by FINRA’s Department of Enforcement:
- From February 2017 through January 2018, Atchison executed 42 discretionary transactions in the accounts of 25 customers, none of whom had given prior written authorization to exercise discretion in their accounts;
- Atchison’s member firm, Davenport & Company, LLC had not approved any of the accounts for discretionary trading; and
- Atchison’s actions were in violation of NASD Rule 2510(b) and FINRA Rule 2010.
FINRA Sanctions John Darrick Atchison
Mr. Atchison consented to the following sanctions:
- A suspension from associating with any FINRA member firm in any and all capacities for 15 business days; and
- A $2,500.00 fine.
John Darrick Atchison has a History of Complaints of Securities Fraud
In addition to the above, according to FINRA BrokerCheck, Mr. Atchison has been the subject of one prior customer initiated complaint and/or arbitration in 1992 while associated with Prudential Securities Inc. In that complaint and/or arbitration, the customer alleged Atchison engaged in transactions without prior authorization, resulting in damages of $11,119.00. The complaint and/or arbitration was settled in the amount of $11,119.00.
Find out if you have Recourse
If you or someone you know has complaints regarding John Darrick Atchison and/or Davenport & Company, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.