Douglas Stopkey (CRD #: 2209717), a broker and investment adviser registered with Davenport & Company, has been suspended by FINRA, according to his BrokerCheck record, accessed on November 23, 2020. This isn’t the only disclosure on his record, nor is it the only allegation from a regulator.
On October 26, 2020, Douglas Stopkey entered into an Acceptance, Waiver, and Consent (AWC) agreement with FINRA, following allegations that Douglas Stopkey executed 300 unauthorized trades without first obtaining written permission from his clients. In order for a broker to execute discretionary trades in an investor’s account, investors must first provide written authorization. Mr. Stopkey was also required to obtain permission from the firm, which he did not do. FINRA further alleged that Douglas Stopkey inaccurately stated that a certain trade had been a client’s idea. As part of the terms of his AWC, Mr. Stopkey agreed to a 30-day suspension, to last from November 16, 2020 to December 15, 2020. You can read a copy of the AWC here.
On February 7, 2020, the Virginia State Corporation Commission imposed a civil fine, following allegations that Douglas Stopkey failed to follow investor instructions. This regulatory matter settled for $15,000.
On August 31, 2018, Douglas Stopkey was fired from his position at Merrill Lynch, Pierce, Fenner & Smith, following allegations that he had executed unauthorized trades in client’s accounts.
Douglas Stopkey has passed a Series 65 Uniform Investment Adviser Law Examination, Series 63 Uniform Securities Agent State Law Examination, Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination. He is a registered broker in Arizona, California, Connecticut, Florida, Illinois, Louisiana, Maryland, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia, and Washington. He is a registered investment adviser in Virginia.
During his 28 years in the securities industry, Douglas Stopkey has worked at one other firm: Merrill Lynch, Pierce, Fenner & Smith, (CRD #: 7691)
If Douglas Stopkey was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.