Securities Arbitration Lawyer Blog
FINRA has suspended and fined former Raymond James Financial Services, Inc. broker David Van Geffen from the securities industry for 15 business days. Mr. Van Geffen consented to the sanctions and to the entry of findings that he impersonated a customer on telephone calls to an annuity company. His suspension is scheduled to begin on September 20, 2021, and end on October 8, 2021. Mr. Van Geffen was fined $5,000.
If you have suffered investment losses with David Van Geffen, or Raymond James, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.
Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms.
FINRA Letter of Acceptance, Waiver, and Consent No. 2020066115901
David Van Geffen and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on August 23, 2021, after FINRA alleged that in January and February 2020, Mr. Van Geffen impersonated a customer on two telephone calls to an annuity company, in violation of FINRA Rule 2010.
FINRA indicated that the matter originated from the Form U5 that Raymond James filed for Mr. Van Geffen.
FINRA Rule 2010 requires members and associated persons, in the conduct of their business, to “observe high standards of commercial honor and just and equitable principles of trade.” Impersonating a customer for the purpose of increasing the income benefit from an annuity is inconsistent with this standard and constitutes a violation of Rule 2010.
In January 2020, a customer requested that Mr. Van Geffen effectuate an increase in the customer’s annuity income benefit. Thereafter, in January and February 2020, Mr. Van Geffen impersonated the customer during two telephone calls with the annuity company and was successful in obtaining the increase. Although the customer requested that Mr. Van Geffen effectuate the increase in the income benefit, he did not give Mr. Van Geffen permission to impersonate him with the annuity company.
David Van Geffen (CRD#: 1890754)
Mr. Van Geffen entered the securities industry in 1988 when he became associated with a FINRA member. In 1996, Mr. Van Geffen became registered with FINRA as a General Securities Representative, among other categories of registration, through his association with Raymond James Financial Services, Inc.
On March 24, 2020, Raymond James filed a Uniform Termination Notice for Securities Industry Registration (Form U5) for Mr. Van Geffen terminating his association with the firm.
Following his departure from Raymond James, Mr. Van Geffen was briefly registered with Aegis Capital Corp. in March 2020. Mr. Van Geffen is currently associated with Ameriprise Financial Services, LLC in Lafayette, LA.
How to Recover Losses or Obtain a Free Consultation
If you have suffered investment losses with David Van Geffen, or Raymond James, contact New York securities arbitration lawyer Jorge Altamirano of Iorio Altamirano LLP at jorge@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. We pursue FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.