Did you lose money investing with Donna Flemming (a/k/a Donna White) (CRD# 1791388)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Donna Flemming (a/k/a Donna White). If you suffered losses investing with Donna Flemming (a/k/a Donna White), then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of September 23, 2020, Donna Flemming (a/k/a Donna White)’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
1 Regulatory Event(s)
See FINRA Letter of Acceptance, Waiver and Consent No. 2016051209101
UPDATE 9/23/2020: According to FINRA’s August 2019 Disciplinary Actions: “Donna Jean Flemming (CRD #1791388, Littleton, Colorado) June 11, 2019 – An AWC was issued in which Flemming was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Flemming consented to the sanction and to the entry of findings that she failed to implement an AML compliance program reasonably designed to detect and cause the reporting of suspicious activity in her member firm’s primary business—accepting and liquidating customers’ deposits of microcap securities. The findings stated that Flemming was required to monitor for red flags by noting the firm’s basis for accepting large stock deposits, and by evaluating and investigating potentially suspicious activity that the firm identified in the course of reviewing proposed stock deposits. Flemming completely abdicated those responsibilities. Flemming ignored those responsibilities despite recognizing that the firm’s business was inherently risky, and despite the presence of numerous red flags of suspicious activity. The findings also stated that Flemming allowed a subordinate to affix her signature to representations required by the firm’s clearing firm, thereby representing that Flemming had reviewed documents supporting customers’ stock deposits, even though she had not actually done so. (FINRA Case #2016051209101)
Current and Previous Registrations
01/15/2003 – 02/01/2019 SPENCER EDWARDS, INC. (CRD#:22067) CENTENNIAL, CO
FINRA expelled the firm on 09/16/2019
01/08/2002 – 09/29/2006 VARIABLE ASSET STRATEGIES, INC. (CRD#:37027) GREENWOOD VILLAGE, CO
07/25/1997 – 01/02/2002 PORTFOLIO BROKERAGE SERVICES, INC. (CRD#:18554) CHICAGO, IL
07/17/1991 – 12/03/1996 ROCKY MOUNTAIN SECURITIES & INVESTMENTS, INC. (CRD#:8350) DENVER, CO
05/22/1989 – 06/27/1991 VENTURE TRADING, INC. (CRD#:21404) NEW YORK, NY
FINRA expelled the firm on 12/20/2001
05/10/1989 – 05/23/1989 B C FINANCIAL CORPORATION (CRD#:13460)
FINRA expelled the firm on 03/16/1992
11/01/1988 – 05/11/1989 FINNET SECURITIES, INC. (CRD#:17960)
01/26/1988 – 10/31/1988 BLINDER, ROBINSON & CO., INC. (CRD#:5096)
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Donna Flemming (a/k/a Donna White) and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
