FINRA Suspends Palm City, Florida Registered Representative Donald Richard Dahn

Donald Richard Dahn (CRD #2172800, Registered Representative, Palm City, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was suspended from association with any FINRA member in any capacity for six months. The suspension is in effect from December 17, 2012, through June 16, 2013. See FINRA Case #2011028370001. Dahn was registered with LPL Financial, LLC from October 2009 through June 2011.

Without admitting or denying the findings, Dahn consented to the described sanction and to the entry of findings that he borrowed a total of $240,900 in business loans from customers, for operating expenses for a company Dahn and his brother ran, and failed to disclose the loans to his member firm. The findings stated that in two of the cases, Dahn co-signed promissory notes executed on behalf of the customers. The firm’s written supervisory procedures prohibited borrowing money from customers. Dahn failed to repay the loans to the customers, which his firm ultimately reimbursed.

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