February 2019-Wimberley, Texas
The FINRA records of William (Bill) Glenn Downing , a former stock broker who was last employed by Coastal Equities Inc. disclose a prior regulator event, a pending customer dispute, 3 prior customer disputes and 2 terminations from employment.
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.
In 8/2018 FINRA permanently barred Downing from the securities industry to resolve allegations that Downing failed to cooperate with a FINRA investigation.
IN 10/2018 a customer of J.W. Cole Financial was paid $385,000 to resolve allegations that Downing made unauthorized and unsuitable trades in their account.
In FINRA Case 11-03772, a customer of Downing’s prior employer, Wells Fargo Advisors, alleged that he was sold unsuitable investments. That matter was settled for $162,500.
Downing was employed by Coastal Equities (dba The Hill Country Advisor) from 8/2017-3/2018 Prior to that he was with J.W. Cole Financial 12/2012-6/2017.
In 7/2012, Downing was discharged from Merrill Lynch who made the following allegation on Downing’s FINRA record: “(1) Mismarking solicited trades as unsolicited (2) Exercising discretion in certain client accounts and (3) Communicating with an unauthorized third party.”
In 12/2000 Downing was discharged from Morgan Keegan for writing checks on his wife’s account.
If you have questions about an account handled by Bill Downing call for a no charge consultation to learn about your options.
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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