David Nissim Fired for Trading Improprieties
David Nissim (CRD 87066) was terminated from Nissim & Gavidia Wealth Management. This is according to records reviewed on November 18, 2021. According to the disclosure, David Nissim was terminated for failing to adhere to Nissim & Gavidia’s procedures related to block trading. The public disclosure related to David Nissim’s termination states that his trading activity was “inconsistent with his fiduciary duty as the pattern was indicative of self-dealing with trades exhibiting favorable intra-day price movement were allocated to person/preferred accounts.”
While Mr. Nissim has been terminated, Frank Gavidia (CRD 2360057) continues to be associated with Walnut Creek, California-based Nissim & Gavidia. Like Mr. Nissim, Frank Gavidia also has a disclosure. In 2009 a client filed a complaint seeking $354,368. Frank Gavidia denied the complaint.