Securities Lawyers Blog
According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker David Persaud (Persaud) a/k/a Dwarka Persaud has been the subject of at least 5 customer complaints and one regulatory action over the course of his career. Customers have filed complaints against Persaud alleging a litany of securities law violations including that the broker made unsuitable investments, unauthorized trades, breach of fiduciary duty, and churning among other claims. Two of these customer complaints were filed recently.
An examination of Persaud’s employment history reveals that Persaud moves from troubled firm to troubled firm. The pattern of brokers moving in this way is sometimes called “cockroaching” within the industry. See More Than 5,000 Stockbrokers From Expelled Firms Still Selling Securities, The Wall Street Journal, (Oct. 4, 2013). In Persaud’s 28 year career he has worked at 21 different firms.
Since 2008 Persaud has been registered with The Concord Equity Group, LLC, Andrew Garrett Inc., Garden State Securities, Inc., and since May 2015, Buckman, Buckman & Reid, Inc.