September 2018 – Ft. Worth, Texas
According to publicly available records William E. Riley, Jr. , a currently unregistered stockbroker, who was last registered with Silver Oak Securities , disclose a pending customer dispute, 4 prior customer disputes and a termination 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 July 2018 a customer of Silver Oak Securities filed FINRA arbitration 18-2466 alleging that Riley made unsuitable recommendations and breached his fiduciary duty. The customer is seeking damages of $600,000.
William Riley worked for SIlver Oak Securities from 1/2008 until just recently. In June 2018 Riley was “permitted to resign”. The firm alleged that Riley failed to submit websites for review and approval for use as required by firm policy. Riley is a registered investment advisor with Riley Wealth Advisors.
If you have questions about an investment account handled by Bill Riley, contact us for a no charge consultation to learn about your legal 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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