Skip to main content

Exit WCAG Theme

Switch to Non-ADA Website

Accessibility Options

Select Text Sizes

Select Text Color

Website Accessibility Information Close Options
Close Menu
Carlson Law, P.A. Motto
  • Free Consultation
  • ~

John Atchison: Virginia Beach Financial Advisor Suspended

A disciplinary action taken by the Financial Industry Regulatory Authority against Virginia Beach, Virginia broker and investment advisor John Atchison (CRD# 1284207) suspended him over allegations he engaged in discretionary trading without proper authorization from his customers. A representative of Davenport & Company, Atchison was suspended for 15 days and issued a fine of $2,500.

According to a Letter of Acceptance, Waiver and Consent (No. 2018059155703) dated July 2019, John Atchison was registered with Davenport & Company when, between February 2017 and January 2018, he effected a total of 42 discretionary trades in the accounts of 25 customers. FINRA’s findings state that none of the customers in whose accounts he executed discretionary trades had provided him with prior written authorization to exercise discretion, although some had provided express or implied authority to do so. FINRA states further that his member firm, Davenport & Company, had not given approval to any of the accounts for trading on a discretionary basis. FINRA found that these activities constituted violations of NASD Rule 2510(b), which forbids FINRA registered persons from engaging in discretionary trading in customer accounts “unless the customer has provided prior written authorization… and the representative’s firm has provided prior written acceptance of the account as a discretionary account.” The regulator also found these activities to constitute a violation of FINRA Rule 2010, which concerns high standards of commercial honor. As a result of the foregoing alleged conduct, Atchison was suspended from associating with any FINRA member firm in any capacity for 15 business days. He was also ordered to pay a fine of $2,500.

John Atchison is currently registered with Davenport & Company in Virginia Beach, Virginia, where he has been registered since 1994. He was previously registered with Prudential Securities in New York, New York and EF Hutton & Company. He currently holds 22 state licenses—including California, Connecticut, Delaware, Illinois, Minnesota, New Jersey, New York, Ohio, South Carolina, Tennessee, Texas, Virginia, and West Virginia—and has passed five securities industry qualification examinations.

Facebook Twitter LinkedIn

By submitting this form I acknowledge that form submissions via this website do not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

Latest Blog Posts

Brian Marston: $1.7MM Real Estate Complaint Against Woodbury Rep

Greenwood Village, Colorado stockbroker and investment adviser Brian Marston (CRD# 733083) is involved in pending investor disputes. According to the Financial Industry Regulatory Authority, Marston is currently a representative of...

Read More

$3MM Complaint Against Elm Grove Rep Timothy Bartelt

Raymond James stockbroker Timothy Bartelt (CRD# 2501532) is the subject of an investor complaint alleging $3 million in damages. According to the Financial Industry Regulatory Authority, Bartelt is based in...

Read More

Michael Shillin: SEC Files SpaceX Charges Against Ex-AGP Rep

Former Altoona stockbroker and investment adviser Michael Shillin (CRD# 5927156) has been named in charges by the Securities and Exchange Commission alleging he deceived his investors. According to the Financial...

Read More

By submitting this form I acknowledge that form submissions via this website do not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

Skip footer and go back to main navigation