Robert Davenport Remembered for Penny Stock Legacy

SEC successors reflect on former regional director’s mark on the Rocky Mountains

CORRECTION: This article originally incorrectly identified the firm where Robert Davenport was of counsel. He worked at Jones & Keller.

Robert Davenport, a former regional Securities and Exchange Commission director and of counsel at Jones & Keller died Oct. 15. He was 87.

Davenport made a mark on the region as head of the local SEC office during a time when penny stocks were a hot commodity for fraudsters in the area. Among his successors at the local office of the SEC, he was known as a Southern gentleman who protected investors, was loyal to his staff and a good friend to have.

In addition to being instrumental in reining in penny stock fraud throughout his career, Davenport also established the annual Rocky Mountain Securities Conference in Denver, which will have its 50th year in 2018.

Davenport was born in Earlington, Kentucky, and was known by those who worked with him at the SEC as a Southern gentleman. Although Davenport made a name for himself with his SEC work later in life, Dan Shea, the SEC regional director who immediately succeeded Davenport, said he found his early success by winning a target-shooting contest in Kentucky at age 12.

To read this story and other complete articles featured in the October 23, 2017 print edition of Law Week Colorado, copies are available for purchase online.