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UPDATE: Investigation of DANIEL MAUGHAN of Los Angeles, CA

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16
Oct

UPDATE: Investigation of DANIEL MAUGHAN of Los Angeles, CA

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UPDATE:  Investigation of DANIEL MAUGHAN of Los Angeles, CA

Daniel Maughan, previously with Financial West Group, Barred from Securities Industry

 

Have you lost money with financial advisor Daniel Maughan?  We are continuing to investigate allegations made about Daniel Gordon Maughan from Los Angeles, California.  FINRA (the Financial Industry Regulatory Authority) was investigating Daniel Maughan, a broker who previously worked with Financial West Group.  FINRA brought a complaint against Maughan in August 2019, regarding allegations that Maughan engaged in excessive trading or churning between October 2010 and January 2015.

 

FINRA alleged that one of Maughan’s customers had a cost-to-equity ratio over 21%.  To put this in perspective, if an account had a cost equity ratio of 10%, that means the trading in the account would have to make a 10% profit just to break even from the costs of trading.  In October 2019, FINRA barred Maughan from the securities industry.

 

Daniel Maughan was a financial advisor and registered representative of Financial West Group from May 2010 to August 2017.  He worked at a branch office in Los Angeles, California. Maughan has also been the subject of four customer complaints.

 

Brokerage firms like Financial West Group have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.

 

Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Phoenix, Arizona.  We represent investors in FINRA arbitration proceedings in all 50 states, including California. Our attorneys have represented over one thousand investors against many brokerage firms in the past.

 

Click to view:  Maughan, Daniel FINRA Order

Click to view:  Maughan, Daniel FINRA AWC

Click to view:  Maughan, Daniel BrokerCheck 8.15.19

 

If you lost money with Daniel Maughan or Financial West Group, please CONTACT US at 720-599-3505 for a free evaluation of your case.

 

Read Related Article:

Daniel Maughan, previously with Financial West Group, Subject of FINRA Complaint

 

 

 

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.
10.0David P Neuman

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