JOHN DAVID SMITH is currently employed as a Broker and/or Investment Adviser at RAYMOND JAMES & ASSOCIATES, INC. located at One International Place, Suite 2810, Boston, MA, 02110.
JOHN DAVID SMITH has worked at RAYMOND JAMES & ASSOCIATES, INC. since September 06, 2016
Disclosure History
JOHN DAVID SMITH has 1 Disclosure Event(s).
Date: September 09, 2013 Category: Customer Dispute Allegations: CLIENT CLAIMS THAT THE CLIENT ADVISOR MISREPRESENTED AN INVESTMENT IN AUCTION RATE SECURITIES AS A CASH ALTERNATIVE. THE TRADING ACTIVITY OCCURRED PRIOR TO THE CLIENT ADVISOR JOINING DBSI IN JULY 2009. Broker Comment: THIS MATTER INVOLVES THE SALE OF AUCTION RATE SECURITIES (ARS). THE PURCHASES AT ISSUE WERE MADE AFTER THE ARS MARKET HAD ALREADY BEGUN TO SUFFER WIDESPREAD AUCTION FAILURES. THE CLIENT WAS FULLY ADVISED THAT ILLIQUIDITY WAS A RISK OF THE INVESTMENTS BUT THE CLIENT, WHO IS AN EXPERIENCED INVESTOR AND THE PRESIDENT OF AN INVESTMENT ADVISOR REGISTERED WITH THE SEC WAS DRAWN TO, AND ULTIMATELY PURCHASED ARS BECAUSE OF THE EXORBITANT PENALTY RATES THAT ISSUERS WERE OBLIGATED TO PAY INVESTORS. I VEHEMENTLY DENY [CUSTOMER'S] ALLEGATION THAT I EVER MISREPRESENTED A SECURITY.
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