FINRA BrokerCheck barred securities broker Roy Kevin Williams [CRD: 843607, Indianapolis, Indiana], according to disclosures on BrokerCheck. According to the regulator, Williams worked for Stifel Nicolaus Company Inc. from June 17, 2009, to May 16, 2023. Here’s more about the securities broker’s disclosures.
FINRA Sanctioned Williams For Failing To Testify
Specifically, on September 5, 2024, FINRA issued Case: 2023078783201 sanctioning Roy Williams. Evidently, FINRA alleged that Williams refused to appear for testimony requested by FINRA during an investigation originating from a Form U5 submitted by his former employer, Stifel Nicolaus Company Inc.
The Form U5 disclosed that Williams had been discharged for obtaining loans from firm clients and making misrepresentations regarding client loans on annual certifications. Although Williams initially cooperated with FINRA’s investigation, he ultimately stopped doing so. On August 7, 2024, FINRA requested Williams to appear for testimony under FINRA Rule 8210. However, he declined and acknowledged his refusal during a phone call with FINRA on August 13, 2024. By failing to comply with FINRA's request, Williams violated FINRA Rules 8210 and 2010.
As a result, Williams accepted a Letter of Acceptance, Waiver, and Consent (AWC), agreeing to the permanent bar from the securities industry. The regulatory action is now final, and Williams is no longer permitted to work with any FINRA employers in any capacity.
Williams Accused of Personal Loans at Stifel Nicolaus
Also, on June 5, 2023, a client of Stifel Nicolaus complained about Roy Williams. Mainly, the client alleged that Williams had them make a loan to the stockbroker between 2019 and 2021. For this reason, the client alleged $59,000 in damages. On July 10, 2023, the securities firm settled the matter by paying $59,000 to the client.
Did You Make Investments Through Securities Broker Roy Williams?
Seeking more information about Roy Williams? If you incurred losses, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer about a potential recovery. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Williams and brokerage firms Williams worked for deny accusations of sales practice violations.
