David Hirons (David Roger Hirons CRD:# 2424566) is a registered broker and investment advisor currently employed with Wedbush Securities Inc. (CRD#: 877) of San Diego, CA. His previous employers include RBC Capital Markets, LLC (CRD#:31194) of La Jolla, CA, and Wells Fargo Advisors, LLC (CRD#:19616) and A. G. Edwards & Sons, INC. (CRD#:4) of San Diego, CA. Hirons was both a broker and investment advisor at all but one previous employer. He has been in the industry since 1994.
RBC Capital discharged David Hirons on 4/6/2018 after allegations that he violated the firm’s policy on order execution. No other information is available.
A customer dispute filed on 8/26/2019 states: “New allegations: the claimant alleges from June 2018 to December 2018 the financial advisor incorrectly executed numerous options. the statement of claim includes claims for trade error execution errors. Prior allegations: (from June 2018 until November 2018) request for trade error reimbursement. Trades were executed in cash account and then were moved to the margin account. Client alleged this caused the account to go “on-call” resulted in liquidation and loosing money.” The client requests damages in the amount of $712,080.00, and the dispute is currently “pending.”
A margin call can occur when the value of an investor’s margin account falls below the broker dealer’s required amount. A margin call is the brokerage firms demand that an investor deposit additional money or securities so that the value of the account is brought up to the minimum value, which is known as the maintenance margin. Investors can meet a margin call several ways including depositing money into an account or liquidating assets. However, in some situations, the broker dealer could have acted negligently setting up a client for a margin call or engaging in a series of transactions that can cause a substantial loss in a margin call.
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