Dennis Travis Subject to Customer Disputes Over Unsuitable Variable Annuity Practices

Securities attorneys at Gana Weinstein LLP are investigating The O.N. Equity Sales Company (O.N. Equity Sales) broker Dennis Travis (Travis). According to BrokerCheck records, Travis has been subject to 6 customer disputes, one of which is still pending. The majority of these customer disputes involve the unsuitable recommendations of variable annuities. In addition, Travis has been subject to a regulatory action by The Financial Industry Regulatory Authority (FINRA) in which FINRA sanctioned Travis for various violations of the securities laws. In November 2017, a customer alleged that Travis placed customer into a variable universal life (VUL) insurance policy that was unsuitable to customer investment needs. The customer has alleged $57,643.65 in damages. This dispute is currently still pending. In addition, in November 2011, FINRA found that Travis placed discretionary trades in the subaccounts of his customers’ variable annuities without the written authorization or…

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