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Jeffrey Daniel Basford, Formerly of David Lerner Associates, Barred by FINRA Following Refusal to Appear for Testimony

INVESTORS: Former David Lerner Associates broker Jeffrey Daniel Basford was barred by FINRA after he declined to appear for on-the-record testimony in connection with FINRA’s investigation of his unsuitable sales of proprietary energy products.

Jeffrey Daniel Basford (CRD: 5077566) was registered as a broker and investment adviser with David Lerner Associates from 2006 until 2022. Basford does not have any other experience in the securities industry.

Basford has four disclosures on his BrokerCheck report. 

August 2022 Regulatory Judgment

Status: Final

Initiated By: FINRA

Allegations: Without admitting or denying the findings, Basford consented to the sanction and to the entry of findings that he declined to appear for on-the-record testimony requested by FINRA during the course of its investigation into his potential unsuitable sales of proprietary energy products to customers at his member firm.

Resolution: Acceptance, Waiver & Consent(AWC)

Sanction: Bar (Permanent)

Registration Capacities Affected: All Capacities

Duration: Indefinite

Start Date: 8/15/2022

September 2021 Customer Dispute

Status: Pending

Allegations: Unsuitability, misrepresentation/omission

Damage Amount Requested: $200,000.00

June 2021 Customer Dispute

Status: Pending

Allegations: Unsuitability, misrepresentation/omission

Damage Amount Requested: $100,000.00

Broker Comment: These allegations do not include misappropriation, forgery, theft or conversion of funds or securities.

June 2021 Customer Dispute

Status: Settled

Allegations: Unsuitability, misrepresentation/omission

Damage Amount Requested: $250,000.00

Settlement Amount: $205,000.00

If you have any information about Jeffrey Daniel Basford that you would like to share or discuss, please call our firm for a confidential consultation. 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.

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