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Read MoreAndre Davis: Ex-Paulson Broker Has $5MM Pending Complaint
According to digital records maintained by the Financial Industry Regulatory Authority (FINRA), former New York City broker Andrew Davis (CRD# 1417097) has received numerous pending customer complaints, including one alleging damages of $5 million. Davis was most recently a representative of Paulson Investment Company; before that he was a representative of First Standard Financial Company in Red Bank, New Jersey.
Andre Davis’s BrokerCheck report currently lists six settled customer complaints and seven pending customer complaints against him. He was also the subject of a December 2020 sanction by the New Jersey Bureau of Securities in connection to allegations he “made untrue statements” and “engaged in an act, practice, or course of business which operated or would operate as a fraud or deceit.” His registration was revoked and he was issued a fine of $1 million.
The most recently filed complaint on his report was filed in July 2020. It alleges that as a representative of First Standard Financial Company, Andre Davis breached his fiduciary duty, committed fraud, acted negligently, and aided and abetted unspecified actions. The pending complaint alleges damages of $5 million.
A pending complaint filed in 2019 alleges that as a representative of First Standard Financial Company, Andre Davis executed excessive trades, made unauthorized transactions, and recommended unsuitable investments. The pending complaint alleges damages of $350,000.
A pending complaint filed in 2019 alleges that as a representative of First Standard Financial Company, Andre Davis engaged in churning and unauthorized trading. The pending complaint alleges damages of $152,400.
A pending complaint filed in 2019 alleges that as a representative of First Standard Financial Company, he executed unauthorized transactions, engaged in excessive trading, and recommended unsuitable investments in over-the-counter equity products.The pending complaint alleges damages of $461,000.
A pending complaint filed in 2019 alleges that as a representative of First Standard Financial Company, he engaged in excessive and unauthorized trading. The pending complaint alleges damages of $300,000.
Financial Industry Regulatory Authority (FINRA) show that Andre Davis holds 19 years of securities industry experience and is currently not registered as a broker or an investment adviser. His prior registrations include Paulson Investment Company in New York, New York; First Standard Financial Company in Red Bank, New Jersey; National Securities Corporation in Red Bank, New Jersey; Brookstone Securities in Staten Island, New York; Newbridge Securities Corporation in Red Bank, New Jersey; LH Ross & Company in Boca Raton, Florida; First Montauk Securities in Red Bank, New Jersey; and JW Barclay & Company in Woodbridge, New Jersey. He has passed three securities industry examinations: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He holds zero state securities licenses. (Information current as of July 14, 2021.)
