Have You Lost Money With Dennis Hayes of Newbridge Securities and Salomon Whitney in Charlotte, NC?

We are continuing to look into allegations made by FINRA, the Financial Industry Regulatory Authority, against Dennis Allen Hayes. In January 2019, FINRA was investigating Dennis Hayes after he was alleged to have engaged in private securities transactions without disclosing such to his former brokerage firm, Newbridge Securities Corp. He was alleged to have sold $2.7 million in investments in five different companies without disclosing such to Newbridge. The companies were identified in FINRA’s complaint as MSLLC, IRLLC, BT Inc., KI Inc., and FX Inc. Hayes was also alleged to have sold customers investments in USA Gold.

MSLLC is no longer in operation. IRLLC is no longer in operation. KI Inc. filed for bankruptcy in 2013 and is no longer in operation. FX Inc. is also no longer in operation.

In March 2019, FINRA barred Hayes for these allegations.

Dennis Hayes was a financial advisor and registered representative of Newbridge Securities Corp. from February 2010 to September 2016. He also was affiliated with Salomon Whitney Financial in April 2017. He worked at branch offices in Charlotte, North Carolina. Hayes also owned and operated Dennis A Hayes Financial Services and Dennis A Hayes CPA.

Brokerage firms like Newbridge Securities Corp. and Salomon Whitney Financial have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout North Carolina. Our attorneys have represented over one thousand investors against many brokerage firms in the past.

Click to view: FINRA Order Dennis Hayes

Click to view: Dennis Hayes FINRA Complaint

Click to view: Dennis Hayes BrokerCheck