David Wong: Did Integrity Brokerage Advisor Convert Customer Funds?

Los Angeles financial advisor David Wong (CRD# 4689031) allegedly converted funds from customer accounts, according to a recent investigation into his conduct. Financial Industry Regulatory Authority records show that he is currently registered as a broker with Integrity Brokerage and an investment advisor with Integrity Advisors.

Mr. Wong’s BrokerCheck report discloses the FINRA investigation into his activities. Filed in March 2024, it states that FINRA made a preliminary determination to recommend disciplinary action against him, alleging that he “improperly used and converted funds from two customer accounts.” The investigation remains pending.

Investors should be aware that a broker’s improper use of customer funds may violate FINRA Rule 2150, which stipulates that no FINRA-associated person “shall make improper use of a customer’s securities or funds.” It may also violate FINRA Rule 2010, which stipulates that brokers must “observe high standards of commercial honor and just and equitable principles of trade” in the performance of their business. Brokers who violate these rules may be liable for damages.

According to the Financial Industry Regulatory Authority, David Wong holds 16 years of securities industry experience. Based in Los Angeles, California, he has been a broker with Integrity Brokerage since 2020 and an investment advisor with Integrity Advisors since 2021. His past registrations include Rance King Securities Corporation, Crewe Capital, WealthForge Securities, Arete Wealth Management, Silber Bennett Financial, Sandlapper Securities, ARI Financial Services, Newport Coast Securities, Passco Capital, Burch & Company, James Harold Goode, and Edward Jones. His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Oregon, and Washington. (Information current as of March 8, 2024.)

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