FINRA Sanctions Walter Light

Soreide Law Group is investigating possible investor claims against securities broker Walter Light AKA Walter Wai Tak Light [CRD#: 1494331, Richardson, TX]. Notably, FINRA sanctioned the securities broker, who worked for Treasure Financial Corp. Allegedly, Light made unauthorized transactions. Here is a brief summary FINRA’s allegations against Light.

FINRA Sanctions Treasure Financial Corp. Securities Broker For Unauthorized Transactions

Evidently, on June 9, 2022, FINRA issued Case #: 2021069366701 sanctioning Walter Light for infractions. Specifically, FINRA imposed a one-month suspension and a $5,000 fine. Notably, FINRA alleged that Light made unauthorized transactions.

Supposedly, between July 1, 2020, and July 1, 2021, without written authorization, Light exercised discretion in 22 client accounts during the time that he was associated with Treasury Financial Corp. Specifically, Light executed 140 discretionary trades in 22 separate client accounts. While the clients knew that Light was exercising discretion in their accounts, he did not have prior written authorization from the clients to do so. Treasury Financial also did not approve any of the accounts as discretionary. Light violated FINRA Rules 2010 and 3260(b) as a result.

NASD Sanctions Securities Broker Walter Light For Unsuitable Recommendations

Also, on November 21, 2000, NASD issued Case #:C01000035 sanctioning Walter Light for infractions. Specifically, NASD issued a one-month suspension and a $15,000 fine. Evidently, NASD alleged that Light made unsuitable recommendations.

Light Discloses Sales Practice Violations Alleged By Light Securities Client

Evidently, a Light Securities client filed FINRA Arbitration #: 99-01608 about Walter Light. Namely, the client alleged that Light committed sales practice violations. Because of this, the client sustained damages. Therefore, on December 22, 1999, a FINRA Arbitration Panel issued an Award ordering Light Securities or Light to pay the client $22,000 in compensatory damages.

Walter Light Allegedly Causes Damages To Client

Also, a Light Securities client filed a complaint about Walter Light. Notably, the client alleged that Light committed sales practice violations. Because of this, the client sustained damages on options. Therefore, on October 30, 1998, Light Securities settled this matter by paying the client $14,760.

Walter Light Discloses Allegations By Light Securities Client

Also, a client of Light Securities contested Walter Light’s sales practices, according to a complaint. Allegedly, Light committed sales practice violations. Supposedly, the options which Light sold or recommended had caused the client to sustain damages. Therefore, Light Securities opted to settle the matter on October 30, 1998 by compensating the client in the amount of $14,760.

Recent Employer Information

Walter Light worked for Treasure Financial Corp. in Richardson, TX, as a securities broker from June 11, 2003 to February 14, 2022.

Damages Resulting From Treasure Financial Corp. Securities Broker Walter Light?

Have you suffered damages by investing with Walter Light? If so, reach out to Soreide Law Group at (888) 760-6552 to talk with a securities lawyer about a possible recovery of your investment losses. Notably, Soreide Law Group has effectively recovered money for investors throughout the United States. The firm represents clients on a contingency fee basis and advances all costs. Light and brokerage firms Light was employed by deny any and all allegations of sales practice violations.