Harry Datys, formerly with Westpark Capital, Suspended by FINRA
Have you lost money with financial advisor Harry S. Datys? We are looking into allegations made about Harry Datys from New York, New York. FINRA (the Financial Industry Regulatory Authority) suspended Datys from the securities industry for fifteen months and fined $20,000. FINRA alleged that Datys sold investments in the Westpark Capital Financial Services LLC, the parent company of his brokerage firm, Westpark Capital.
FINRA alleged that Datys failed to have a reasonable basis for recommending notes in Westpark Capital Financial Services, which had been experiencing financial problems when he sold these notes. FINRA further alleged that Datys failed to perform reasonable due diligence into these notes before selling them. Datys sold these notes to 14 investors, raising over $2.7 million.
Harry Datys was a financial advisor and registered representative of Westpark Capital from 2005 to January 2020. He worked in a branch office in New York, New York. Datys has been the subject of at least fifteen customer complaints and four tax liens.
Brokerage firms like Westpark Capital 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; Ann Arbor, Michigan; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including throughout New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Westpark Capital.