Ryan Davis, previously with Wells Fargo, Suspended 18 Months by FINRA
Have you lost money with financial advisor Ryan Davis? We are looking into allegations made about Ryan Matthew Davis from Mahwah, New Jersey. FINRA (the Financial Industry Regulatory Authority) suspended Davis from the securities industry for 18 months and fined him $15,000. FINRA was investigating Davis after he allegedly did not disclose private securities transactions. Davis has been alleged to have sold investments in an LLC that he created, which purportedly invested in cryptocurrencies.
Ryan Davis was a financial advisor and registered representative of Wells Fargo from April 2015 to January 2019. He worked in a branch office in Mahwah, New Jersey. Davis was terminated by Wells Fargo after it learned of the cryptocurrencies investments.
Brokerage firms like Wells Fargo 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; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including New Jersey. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Wells Fargo.