David Wong: Sanctioned by the SEC for Making “Reckless” and “Misleading” Statements

David WongPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 29, 2017 indicate that former New York-based Barclays Capital broker David Wong has been sanctioned by the Securities and Exchange Commission and suspended from acting as a broker and an investment adviser. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Wong (CRD# 4694243).

David Wong has spent twelve years in the securities industry and was most recently registered with Barclays Capital in New York, New York (2008-2016). Previous registrations include Lehman Brothers in New York, New York. He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination); and Series 7 (General Securities Representative Examination). He is currently not affiliated with any broker-dealer firm.

According to his BrokerCheck report, David Wong has been sanctioned by the SEC and was discharged from his former employer.

In May 2017 the SEC sanctioned him following allegations he “knowingly or recklessly made false or misleading statements to customers and/or charged customers undisclosed excessive mark-ups on certain intra-day purchases and sales of non-agency RMBS” and that “as a result of this misconduct… generated more revenue for Barclays and indirectly secured greater compensation for himself.” He was issued a 12-month suspension and a fine of $125,000.

In 2016 he was terminated from his position at Barclays Capital following allegations “involving certain inaccurate communications to customers during the negotiation of residential mortgage-backed securities trades.”

If you or someone you know has complaints regarding David Wong, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.