Darnell Kenneth Mote Allegedly Engaged in an Outside Business Activity without Properly Providing Prior Written Notice to his Member Firm
Darnell Mote allegedly engaged in an outside business activity without providing prior written notice to his member firm, according to FINRA Reports under review by investor rights attorney Alan Rosca.
Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Darnell Mote’s alleged outside business activity. Investors who believe they may have lost money in activity related to Darnell Mote’s alleged outside business activity are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Darnell Mote was licensed with Wells Fargo Advisors, LLC in Jacksonville, Florida, from August 6, 2012 until November 9, 2015, and also with NYLIFE Securities in Jacksonville, Florida from January 13, 2016 until August 30, 2018, FINRA states.
Wells Fargo Advisors, LLC allegedly reported to FINRA that Darnell Mote’s resignation related to Wells Fargo Bank’s review of allegations that Darnell Mote allegedly provided confidential customer information to a third party, which later allegedly resulted in a loss to the bank customer, FINRA states.
Darnell Mote Suspended & Fined $5K by FINRA
Darnell Mote, based on the aforementioned alleged behavior, has been suspended and fined $5,000 by FINRA, according to FINRA Reports under review by attorney Alan Rosca.
Mote, without admitting or denying the findings, reportedly consented to the sanctions and to the entry of findings that he engaged in an outside business activity without providing prior written notice to his member firm, FINRA states.
Brokerage firms such as Wells Fargo Advisors, LLC and NYLIFE Securities LLC Maxwell Wealth Planning, Inc. have a responsibility to adequately supervise all of their registered representatives who are employed through their firm, to prevent violations of securities rules and regulations. Brokerage firms also must initiate action to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Darnell Mote’s alleged outside business activity. The firm takes most cases of this type on a contingency fee basis and advance 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, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Darnell Mote’s alleged outside business activity may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.