David Krumrey Terminated from Oppenheimer for Rule Violations
Texas-based financial advisor David Wayne Krumrey (CRD# 4121845) was terminated from the brokerage firm of Oppenheimer & Company relating to allegations that he violated securities industry rules.
According to his Financial Industry Regulatory Authority (FINRA) report, Krumrey is no longer registered with any firm, but he had been at Oppenheimer & Company for eight years. It is alleged that David Krumrey attempted to settle a customer complaint on his own, without Oppenheimer’s knowledge or approval. Securities industry rules prohibit registered representatives from settling customer complaints without the supervising brokerage firm’s involvement. Oppenheimer terminated Krumrey on August 31, 2017.
Public records published by FINRA also identify two customer complaints that are currently pending involving allegations of misconduct by Krumrey. One customer complaint alleges $200,000 in damages for negligence, breach of fiduciary duty, negligent supervision, and breach of contract relating to energy investments that Krumrey allegedly sold.
Another customer complaint alleges that Krumrey engaged in unauthorized transactions in the customer’s securities account in May of 2014 and seeks$91,000 in damages, according to the FINRA report.
David Krumrey was with Oppenheimer & Co, Inc. from March of 2009 until he was terminated at the end of August.
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