The Rosca Scarlato LLC law firm attorneys are currently investigating previously registered broker Darrell Smith, also known as Darrell Anthony Smith Jr., for allegedly refusing to provide on-the-record testimony requested by FINRA related to a Form U5 filed by his firm stating his resignation after unauthorized transaction allegations according to a Letter of Acceptance, Waiver and Consent (AWC), under review by attorney Alan Rosca.
Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm is investigating conduct related to Darrell Smith’s alleged bar by FINRA, resignation, and unauthorized transactions. Investors who are concerned about their investments may contact attorney Alan Rosca for a free case evaluation and discussion of potential options. Call 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
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Darrell Smith Allegedly Resigned from Wells Fargo Clearing Services
According to Smith’s FINRA Brokercheck page, Wells Fargo Clearing Services filed a Form U5 on February 5, 2020. Smith allegedly voluntarily resigned from the firm after allegations that he initiated payments and other transactions out of two separate customer bank accounts, some of which were disputed as unauthorized. Smith was employed with the firm since June 2017 until February 2020.
In January 2021, FINRA sent a request for broker Darrell Smith to appear for on-the-record testimony in connection to allegations concerning his voluntary resignation from Wells Fargo Clearing Services, according to the AWC.
The AWC further alleges Smith acknowledged that he received FINRA’s request and will not appear for on-the-record testimony at any time.
Broker Darrell Smith signed the AWC accepting and consenting to FINRA’s findings, without admitting or denying the findings, Smith consented to the sanction and to the entry of findings, and solely for the purposes of the proceeding brought by or on behalf of FINRA, prior to a hearing and without an adjudication of any issue of law or fact, that he refused to provide on-the-record testimony requested by FINRA after it received a Form U5 filed by his member firm that stated that he had resigned after allegations that he initiated payments and other transactions out of customer bank accounts, some of which the customers subsequently disputed as unauthorized.
As a result of his alleged misconduct, Smith has been barred from associating with any FINRA member firm in all capacities.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Investor Rights Attorneys Are Investigating Potential Options for Darrell Smith Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to Darrell Smith’s alleged bar, resignation, and unauthorized transactions.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who are concerned they may have suffered a loss with broker Darrell Smith may contact an experienced attorney at the Rosca Scarlato LLC law firm for a free, no-obligation case evaluation and discussion of potential options, or to provide any useful information and learn about your rights. Call 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.