Damien P. Alexander, Financial Network Investment Corporation, and Quest Securities, Inc.
FINRA (the Financial Industry Regulatory Authority) has recently barred a former registered representative from Fair Oaks, California named Damien P. Alexander. Damien Alexander was alleged to have sold unregistered securities to his clients and engaging in private securities transactions and purportedly undisclosed outside business activities, a practice commonly known as “selling away” in the securities industry. Damien Alexander failed to file a response with FINRA, which prompted him from being banned from the securities industry. Damien Alexander also was barred by the California Corporations Commissioner in December 2013 for the same conduct. The California Corporations Commissioner also fined Alexander $1,245,000 and ordered him to disgorge commissions of $127,625.
Damien Alexander was a registered financial advisor with Financial Network Investment Corporation (FNIC) from August 2008 to July 2011. Financial Network Investment Corporation was reorganized in January 2013 as Cetera Advisor Networks LLC. Damien Alexander was also a financial advisor with Quest Securities, Inc. from December 2012 to January 2013.
Broker-dealers like FNIC and Quest Securities have a responsibility to adequately supervise all representatives who are registered through their firms. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers. If you have lost money through Damien Alexander and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ or call us at 720-599-3505.