David Lloyd Barber FINRAThe Frankowski Firm is investigating potential claims against FINRA-expelled broker David L. Barber, of San Diego, California, following Mr. Barber’s expulsion from the securities industry due to his failure to cooperate with a FINRA investigation into allegations that he engaged in unauthorized trading in to the accounts of Madison Avenue customers, exercised discretion in customer accounts without written authorization, or otherwise acted in violation of FINRA rules.

Barber and Madison Avenue were also the losing parties in a FINRA arbitration award last month of over $2 million in compensatory damages, punitive damages, attorney’s fees, and case expenses, based on allegations that Madison Avenue and Barber engaged in churning, unauthorized trading, breach of fiduciary duty, and failure to supervise trades in a customer’s account.

Prior to his employment at Madison Avenue, Barber was previously fined and censured by FINRA for receiving $867,000.00 in five loans from customers of his firm, while concealing the loans from his employer. Even though Barber paid back the loans, he was sanctioned by FINRA for the undisclosed outside business activity.

If you or someone you know lost money as a client of David L. Barber or Madison Avenue Securities due to unsuitable, misrepresented, or unauthorized transactions, please call the Frankowski Firm at 888.741.7503 or fill out this contact form.