August 2016-The Villages, Florida
The FINRA records of William H. Smathers , a stock broker who is currently employed by NEXT Financial Group , disclose 9 prior final customer disputes.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
The prior customer disputes include three that were settled:
- NASD Case 4-07644 in which a customer of Smather’s former employer, Morgan Stanley DW, alleged damages of $309,000 for common law and statutory violations. That case was settled for $462,000.
- NASD Case 3-02611 in which a customer of Morgan Stanley Dean Witter alleged damages of $90,000 for common law and statutory violations. That case was settled for $30,000.
- A case brought in 2001 a Morgan Stanley customer alleged damages of $800,000 for unsuitable trades, unauthorized trades and excessive use of margin. That case was settled for $200,000.
Smathers has been employed by NEXT Financial Group since 9/2013. His prior employment includes Capital Guardian, Sagepoint Financial, SunAmerica Securities and Morgan Stanley Dean Witter.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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