Soreide Law Group, based in Florida, obtained the following from FINRA’s June 2017 Disciplinary Report regarding Florida broker:
WILLIAM CAMBELL WEBB (BILL C. WEBB, BILL WEBB, WILLIAM C. WEBB) (CRD #1621426, Panama City, Florida)
was assessed a deferred fine of $15,000 and suspended by FINRA for 18 months for allegedly engaging in outside business activities involving member firm clients without providing prior written notice to the firm, as required.
FINRA’s findings stated that Webb owned and managed outside business activities involving real estate ventures with firm clients and for which he received compensation. The firm’s Written Supervisory Procedures (WSPs) required that registered representatives receive prior firm approval before engaging in any outside business activity. Webb initially disclosed to his firm one of his outside business activities in October 2009, but failed to disclose his continued involvement in the activity until December 2014. Webb failed to disclose to his firm the other outside business activities. Webb also provided inaccurate annual firm compliance questionnaires regarding his outside business activities between 2012 and 2014.
FINRA’s findings also stated that Webb obtained loans from firm clients totaling $340,000, which were neither disclosed nor approved by the firm. The firm’s WSPs in effect prohibited loans between firm clients and registered persons.
Also FINRA stated that Webb provided an inaccurate annual firm compliance questionnaire regarding his loans from firm clients in 2014. All loans have been repaid to the clients.
The suspension is in effect from May 1, 2017, through October 31, 2018.
(FINRA Case #2015047061101)
According to FINRA’s BrokerCheck, William C. Webb has 25 years of experience in the securities industry and was listed with 6 firms, the last listed below:
11/13/2009 - 09/23/2015 RAYMOND JAMES & ASSOCIATES, INC - PANAMA CITY, FL
If you experienced losses due to the former Raymond James of Panama City, Florida broker, William C. Webb, call the Florida-based law firm, Soreide Law Group and speak to a securities lawyer regarding the possibility of recovering your financial losses at: 888-760-6552.
Soreide Law Group operates on a contingency fee basis and we represent clients nationwide before FINRA. Let our years of experience work for you.
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