Former Seattle, Washington financial advisor William Sandeman (CRD# 831384) was recently sanctioned and barred in connection with alleged rule violations....
Read MoreDonna Barnard: FINRA Bars Kilgore, Texas Broker
A disciplinary action taken by the Financial Industry Regulatory Authority against former Kilgore, Texas broker Donna Barnard (CRD# 5653949) barred her after finding she failed to provide documents and information connected with its examination of allegations she participated in sales of unregistered notes. A former representative of HD Vest Investment Services, Barnard was barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2018057494201) dated September 2018, FINRA sent Donna Barnard a request on July 6, 2018 for information and documents connected to its review of her involvement in sales of notes related to the Woodbridge Group of Companies, which FINRA describes as “a group of unregistered companies.” FINRA requested a response by July 20, 2018, and Barnard requested a extension through her attorney until August 2, 2018. In spite of this, according to FINRA, she did not provide the requested documents and information by that date, and indicated to FINRA through counsel that she would not respond to its request. FINRA found that this refusal constituted a violation of FINRA Rule 8210 and FINRA Rule 2010. As a result of the foregoing alleged conduct, she was barred from associating with any FINRA member in any capacity.
Donna Barnard’s disclosure records also list eleven settled or pending customer complaints against her.
A 2018 complaint alleged that as a representative of Woodmen Financial Services, she made unsuitable recommendations and misrepresentations of material facts connected to Woodbridge promissory notes. The complaint reached a settlement of $17,500.
A 2018 complaint alleged that as a representative of HD Vest Investment Services, she misrepresented the Woodbridge Mortgage Investment Fund and did not conduct reasonable due diligence. The complaint reached a settlement of $76,597.
A 2018 complaint alleged that as a representative of HD Vest Investment Services, she failed to conduct reasonable due diligence into an unregistered security and misrepresented material facts. The complaint reached a settlement of $204,492.
A 2018 complaint alleged that as a representative of HD Vest Investment Services, she misrepresented an investment in the Woodbridge Mortgage Investment Fund and failed to perform reasonable due diligence. The complaint reached a settlement of $395,187.
Donna Barnard is currently not registered as a broker or investment advisor. Her employment history includes HD Vest Investment Services, Signal Securities, and Woodmen Financial Services, all in Kilgore, Texas. She currently holds zero state licenses and has passed four securities industry qualification examinations.
