Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on September 28, 2016 indicate that New York-based Legend Securities broker Darren Dorval has been the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Dorval (CRD# 4324418).
Darren Dorval has spent fifteen years in the securities industry and has been registered with Legend Securities in Staten Island, New York since 2009. Previous registrations include Legend Trading in New York, New York (2011-20130; VFinance Investments in New York, New York (2002-2009); VFinance Investments in Boca Raton, Florida (2001-2002); and JP Turner & Company in Atlanta, Georgia (2001). He is a registered broker with 25 US states.
According to his BrokerCheck report, Darren Dorval is the subject of one regulatory action, one customer complaint, and three pending customer complaints.
In April 2015 a customer alleged Darren Dorval, while employed at Legend Securities, executed unauthorized transactions, misrepresented material facts related to an investment, churned investments, failed to follow instructions, manipulated stocks, was not properly licensed in Florida when he conducted business, and used margin improperly. The customer is seeking $150,000 in damages in the pending complaint.
In 2013 a customer alleged Darren Dorval, while employed at Legend Securities, effected unauthorized transactions. The complaint settled in April 2016 for $45,000.
In 2013 a customer alleged Darren Dorval, while employed at VFinance Investments, executed excessive trades, breached contract, misrepresented material facts related to an investment, and made unsuitable investment recommendations. The complaint settled for $77,500.
In 2010 the Financial Industry Regulatory Authority (FINRA) sanctioned Darren Dorval following allegations he executed discretionary trades without proper customer authorization or firm approval. He was censured and issued a fine of $10,000.
In 2009 a customer alleged Darren Dorval, while employed at VFinance Investments, made unauthorized transactions and failed to follow instructions. The complaint settled in 2010 for $30,000.
“Margin” refers to the practice of borrowing funds from one’s broker or investment adviser to purchase a security, with that security itself used as collateral in the transaction. There are many benefits to purchasing securities on margin, chiefly the increase of purchasing power that allows investors to buy more securities without completely paying for them. There are also many risks, chiefly the increase in potential for significant losses. Brokers, investment advisers, and broker-dealer firms who unsuitably recommend investments on margin may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Darren Dorval, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.