Donald Dahn entered the financial industry in 1991 working for Prudential Insurance. Since then he has worked for Pruco Securities, Manequitity, Inc., Makefield Securities Corp., Transamerica Financial Resources, Mutual Service Corp. and LPL Financial.
Dahn worked for LPL from 2009 to 2011. While he was employed by LPL Dahn received three separate customer complaints, two of which claimed that Dahn had failed to repay various loans from his customers. One case settled for $50,000 and another settled for $40,000. A third complaint alleged unsuitable investments in variable annuities.
Dahn was terminated from LPL in 2011 for violating the firm’s document signature policy. Typically this is jargon for forging someone’s signature on a legal document, but the details of the termination were not provided by FINRA.
On December 5, 2012 Dahn entered into a letter of Acceptance, Waiver and Consent (AWC) for the above mentioned loans. According to the AWC, Dahn borrowed a total of $240,900 in business loans from three separate customers and failed to tell LPL about these loans. As a result he was suspended from the financial industry for six months.
On November 19, 2013 Dahn entered into yet another AWC for the same type of violation. He borrowed a total of $27,100 from customers to be used for business expenses for a company Dahn apparently owned. Dahn failed to report these loans once again to his firm and failed to repay these loans as well.
Donald Dahn has been permanently barred from the financial industry. He is not associated with any FIRNA approved member firm.