David Dalton, formerly with Moors & Cabot, Suspended from Securities Industry
Have you lost money with financial advisor David Dalton of Boston, Massachusetts? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against David F. Dalton. FINRA suspended Dalton from the securities industry for three months and fined $7,500. It was alleged that Dalton exercised discretion in a customer account without written authorization while registered with Moors & Cabot. It was further alleged that Dalton exercised discretion for about 11,500 trades in 221 customer accounts.
David Dalton was a financial advisor and registered representative of Moors & Cabot from 2002 to January 2020. He worked at a branch office in Boston, Massachusetts.
Brokerage firms like Moors & Cabot 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 Seattle, Washington; Ann Arbor, Michigan; Denver Colorado; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Massachusetts. Our attorneys have represented over one thousand investors against many brokerage firms in the past.