David Khezri Under FINRA Investigation Over Excessive Trades

David Khezri Under FINRA Investigation Over Excessive Trades

David Khezri (CRD #: 2736831), a broker registered with Network 1 Financial Securities, is under FINRA investigation according to his BrokerCheck record, accessed on November 24, 2021.

FINRA Announces Investigation into David Khezri

On May 26, 2021, FINRA made a preliminary determination to recommend that disciplinary action be brought against David Khezri.  FINRA alleges that Khezri violated various rules, including FINRA Rules 3260 and 2010.  Khezri engaged in excessive and unauthorized trading by using margin in customers’ accounts without their knowledge.

Investor Disputes Citing Excessive Trading  

Before FINRA announced its investigation, Kkezri was involved in two customer disputes. On March 15, 2021, an investor alleged that David Khezri executed excessive trades for the sake of commissions. The investor further alleged that Khezri engaged in common law fraud. The investor sought $187,000; the dispute is pending.

On March 6, 2020, an investor alleged that David Khezri engaged in negligence. The investor sought $235,635; the dispute is pending.

Previous FINRA Fine from 2015

On September 24, 2015, David Khezri entered into an Acceptance, Waiver, and Consent (AWC) agreement in which he consented to the findings that he effected 100 trades in six customer accounts without obtaining prior written authorization. The AWC further alleged that the customer accounts had not been approved for discretionary trading by the firm. As part of the terms of the AWC, Khezri consented to a $5,000 fine and a 30-day suspension.

No Longer Registered with Network 1 Financial

David Khezri was previously registered with Network 1 Financial in Hauppauge, New York.  He is no longer registered with that firm as of August 6, 2021.  He is currently not registered with another FINRA member firm.  David Khezri has passed the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination. He is a registered broker in 22 states. He has had a history of changing brokerage firms and has been registered with the following:

  • Network 1 Financial Securities (CRD #: 13577)
  • Worden Capital Management LLC (CRD #: 148366)
  • Joseph Stone Capital (CRD #: 159744)
  • Cape Securities (CRD #: 7072)
  • EKN Financial Services (CRD #: 113525)
  • ITradeDirect.com Corp (CRD #: 18281)
  • Liberty Partners Financial Services (CRD #: 130390)
  • Milestone Financial Services (CRD #: 43295)
  • Gilford Securities Incorporated (CRD #:  8076)
  • Seaboard Securities (CRD #: 755)
  • H.J. Meyers & Co. (CRD #: 15609)
  • Investors Associates (CRD #: 958)

Did You Lose Money Investing with David Khezri?

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