Scott Burford-Former Hilltop Securities Broker-Discloses Regulatory Event and Termination-Dallas, TX

Scott Burford-Former Hilltop Securities Broker-Discloses Regulatory Event and Termination-Dallas, TX

Scott Burford-Former Hilltop Securities Broker-Discloses Regulatory Event and Termination-Dallas, TX 150 150 ER

Scott Burford Investigation

February 2023-Dallas, TX

The FINRA records of Scott Burford ,  a Hilltop Securities Network Securities, Inc., broker disclose a regulatory matter and a termination.

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.

FINRA case #2019064656601 filed in September 2021, alleges that Burford executed unauthorized trades in a customer’s account after the customer’s death.   The complaint alleges that Burford failed to timely inform his member firm that the customer, a first cousin of his wife, had passed away.   Burford knew that the firm’s procedures required that he inform the firm of the customer’s death and treat the customer’s accounts as frozen until legal matters involving the accounts were determined.   Instead of following the firm’s procedures, Burford accepted instructions to effectuate transactions in one of the customer accounts from the customer’s widow.   The customer’s widow, however, did not have any authority to direct activity in that account after the customer’s death an d the account was a non-discretionary account.    Nevertheless, at the customer’s widow’s direction, Burford executed securities sales totaling $129,972.03 in the customer’s account and facilitated automated clearing house dispursements to the customer’s widow from the customer’s account totaling $84,669.87.   The resolution of this case is pending appeal.

In November 2019, Burford was discharged from employment with Hilltop Securities Independent Network, Inc. after failing to follow firm policy regarding death of a client.   He had been employed with them since February of 1995.

If you have losses in an account handled by Scott Burford call to learn how you may be entitled to collect damages through FINRA arbitration.

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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Rex Securities Law

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