Former Broker Charged with Improperly Trading Customer Accounts

The Financial Industry Regulatory Authority (FINRA) charged David Randall Lockey with profiting from the improper trading of customer accounts for two years. While employed with SWS Financial Services, Lockey engaged in unsuitable short-term trading and switching in mutual funds and unit investment trusts in four accounts from May 2012 until March 2014. SWS is now known as Hilltop Securities Independent Network Inc. Lockey generated $75,730 for himself while his customers lost thousands. According to his online FINRA BrokerCheck report, he was registered with UBS Painewebber in Weehawken, New Jersey from May 2001 until September 2002, H&R Block in Detroit, Michigan from October 2002 until July 2005, Chase Investment Services Corp in Richardson, Texas from July 2005 until October 2009, Edward Jones in Plano, Texas from October 2009 until March 2012 and SWS Financial Services in Dallas, Texas from April 2012 until April 2014. Please call today if you have suffered losses with Lockey. You may be able to bring a claim against SWS.

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