Tag Archives: coastal equities customer complaints

Bill Downing-Former J.W. Cole Finanical Broker-Discloses Customer Dispute-Wimberley, Texas

March 2018-Wimberley, Texas

The FINRA records of  William (Bill) G. Downing ,  a  stock broker who is employed by Coastal Equities Inc.  disclose  a  prior customer dispute 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 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 has been employed by Coastal Equities (dba The Hill Country Advisor)  since 8/2017. 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Coastal Equities Broker Michael Donnelly Sanctioned by Securities Regulator-Discharged for Misappropriating Client Funds

October 2015 UPDATE-Michael Donnelly admits stealing $2M from his elderly clients. See this for more.

October 5, 2014-Newark, Delaware

Michael E. Donnelly  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that in September 2014 Donnelly would not cooperate with FINRA who was investigating allegations that he converted client funds.   Case # 2014042487201.

Donnelly was permanently barred  from acting as a broker or otherwise associating with firms that sell securities to the public.

FINRA records indicate Donnelly was registered with Coastal Equities, Inc.  from 10/2009-9/2014. Donnelly was discharged from Coastal Equities 9/2/2014 with the comment “Misappropriation of client funds”.

Prior to that he was registered with First Midwest Securities  from 5/2006-3/2009.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870