Dennis Phillip Ayre, Formerly of Hilltop Securities, Barred by FINRA Following Refusal to Appear for Testimony

INVESTORS: Former Hilltop Securities broker Dennis Phillip Ayre was barred by FINRA following his refusal to appear for testimony requested by FINRA in connection with its investigation into the suitability of certain investment recommendations he made to customers.

Dennis Phillip Ayre (CRD#:5365176) was registered as a broker with Hilltop Securities from August 2019 until July 2020. Previously, Ayre was registered as a broker with Oppenheimer & Co. from 2014 until 2017.

Ayre has 15 disclosures on his BrokerCheck report. One customer dispute was denied and one was withdrawn. 

December 2021 Regulatory Judgment

Status: Pending

Initiated By: FINRA

Allegations: Without admitting or denying the findings, Ayre consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with its investigation into the suitability of certain investment recommendations he made to customers while he was registered with FINRA.

Resolution: Acceptance, Waiver & Consent (AWC)

Sanctions: Bar (Permanent)

Registration Capacities Affected: All capacities

Duration: Indefinite

Start Date: 1/28/2022


December 2021 Customer Dispute

Status: Pending

Allegations: Claimants assert claims of failure to supervise, breach of fiduciary duty, respondent superior, unsuitability, breach of contract, violations of California securities laws, violation of FINRA Rules, fraud, intentional and negligent misrepresentations, professional negligence and other common law claims relating to purchases of energy company stock. Sears common stock and Contra Calamos. From 3/1/2014 to 5/1/2017.

Damage Amount Requested: $1,000,000.00


July 2021 Customer Dispute

Status: Pending

Allegations: Claimants assert claims of unsuitability, negligence, negligent and intentional misrepresentation and omission, fraud, control person liability, respondent superior, breach of fiduciary duties, failure to supervise, failure to warn, violations of California securities laws, violation of FINRA Rules, breach of contract, loss of investment opportunity and rescission, relating to purchase and concentration of Foresight Energy, LP stock in the accounts. From 3/1/2014 to 9/30/2019.

Damage Amount Requested: $5,480,902.73


July 2021 Customer Dispute

Status: Pending

Allegations: Claimant asserts claims of failure to supervise, breach of fiduciary duty, respondent superior, unsuitability, breach of contract, violations of California securities laws, violation of FINRA Rules, professional negligence and other common law claims relating to the purchase of Foresight Energy L.P. stock. From 9/1/2016 to 6/9/2017.

Damage Amount Requested: $50,000.00


December 2020 Customer Dispute

Status: Pending

Allegations: Claimants assert claims of breach of fiduciary duty and negligence relating to concentrated investment in Foresight Energy LP stock. From 9/18/2014 to 5/1/2017.

Damage Amount Requested: $300,000.00


September 2020 Customer Dispute

Status: Settled

Allegations: Suitability, concentration in Foresight Energy, LLC. To 2014-2017 ( at Oppenheimer) ; thereafter, at Integrated Advisor Network

Settlement Amount: $25,000.00


September 2020 Customer Dispute

Status: Settled

Allegations: Investment service suitability, excessive concentration and risk

Damage Amount Requested: $800,000.00

Settlement Amount: $77,000.00


September 2020 Customer Dispute

Status: Settled

Allegations: Unsuitable investments

Damage Amount Requested: $784,147.00

Settlement Amount: $43,407.46


August 2020 Customer Dispute

Status: Pending

Allegations: Claimant alleges claims for breach of fiduciary duty, negligence and negligent misrepresentation concerning investments in FELP. From 2016-2017 Time Period

Damage Amount Requested: $775,000.00


May 2020 Customer Dispute

Status: Settled

Allegations: Claimants assert claims of failure to supervise, breach of fiduciary duty, respondeat superior, unsuitability, breach of contract, violations of California securities laws, violation of FINRA rules, fraud and other common law claims relating to purchases of certain stocks and bonds of energy companies, as well as Sears common stock. From 3/1/2014 to 5/1/2017

Damage Amount Requested: $1,950,000.00

Settlement Amount: $20,000.00


April 2020 Customer Dispute

Status: Settled

Allegations: Excessive risk relative to client stated objective

Damage Amount Requested: $52,058.00

Settlement Amount: $20,823.06


October 2019 Customer Dispute

Status: Settled

Allegations: Unsuitable investments

Damage Amount Requested: $5,200,000.00

Settlement Amount: $394,142.09


October 2019 Customer Dispute

Status: Settled

Allegations: Investment advice suitability; excessive risk and strategy deviation

Damage Amount Requested: $11,472,671.00

Settlement Amount: $604,000.00


The Sonn Law Group is currently investigating allegations surrounding Dennis Phillip Ayre. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.