David Randall Lockey, a former registered broker with SWS Financial Services, now known as Hilltop Securities Independent Network, Inc., entered into a disciplinary proceeding with the Financial Industry Regulatory Authority (FINRA). FINRA alleged that Lockey engaged in unsuitable short-term trading and switching in open-end mutual funds, closed-end funds and/or unit investment trusts (UITs) in four different customer accounts. He also allegedly falsified five required SWS switch forms, making it appear that the securities purchased through him at his prior employer had been held in customer accounts longer than they had actually been. These are against securities rules and regulations.
Lockey was registered with UBS Painewebber Inc. in Weehawken, New Jersey from May 2001 until September 2002, H & R Block Financial Advisors in Detroit, Michigan from October 2002 until July 2005, Chase Investment Services 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 from April 2012 until April 2014. He is not currently registered with any member firm. If you lost money with Lockey, please call our Chicago-based securities law office to speak to an attorney about your options of suing SWS in the FINRA arbitration process on a contingency fee basis.
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