Financial Industry Regulatory Authority (FINRA) records indicate that JP Morgan Securities broker James Baker (CRD# 5651660) recently received a customer...Read More
Dana Vietor: Dallas Broker Barred Over Deposit Agreement Sales
Dana Vietor (CRD# 873129), formerly a representative of CFD Investments in Dallas, Texas, was recently barred by the Financial Industry Regulatory Authority in connection to allegations he engaged in private securities transactions involving the sales of promissory note products known as Deposit Agreements.
According to a Letter of Acceptance, Waiver and Consent (No. 2018060199101) dated March 2020, Dana Vietor was associated with Cape Securities, Oakbridge Financial Services, and CFD Investments when, between January 2014 and November 2018, he participated in the sales of promissory note products called Deposit Agreements involving at least 40 customers and more than $3 million in sales. FINRA states that the Deposit Agreements “were unregistered securities,” and that he did not disclose his involvement in the sales to any of his member firms, nor receive their approval for such. The findings go on to state that he entered into the Deposit Agreements with customers in order to raise funds for a business venture he started with business partners in 2011; he had disclosed the venture to his firms, as well as his participation in fundraising for the venture via two private placement offerings. He did not, however, disclose any of his Deposit Agreement transactions to the three firms, though he received indirect selling compensation from them, as he was a member of the “management team that manages these entities and has membership interests in each.” FINRA states that his activities constituted violations of nASD Rule 3040, FINRA Rule 3280, and FINRA Rule 2010. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member firm.
Dana Vietor is currently not registered as a broker. His previous registrations include CFD Investments, Oakbridge Financial Services, Cape Securities, Allied Beacon Partners, Workman Securities Corporation, Linsco/Private Ledger Corporation, the Advisors Group, Allied Group Merchant Banking Corporation, LaSalle St. Securities, Financial Network Investment Corporation, F&G Securities, St Paul Investors, SMA Equities. He has passed seven securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of May 27, 2020.)