Investors might have sustained losses due to securities broker William Lief Collins (also known as Bill Collins) [CRD: 2787822, Farmington Hills, Michigan], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, William Collins worked for Morgan Stanley from May 28, 2010, to September 21, 2023. Keep reading to learn more about the securities broker’s disclosures.
Collins Disclosed Excessive Trading Allegations By Morgan Stanley Client
Specifically, a client of Morgan Stanley contested William Collins’ sales practices by filing FINRA Arbitration No. 22-00733. Allegedly, Collins engaged in excessive and unauthorized trading. It appears that Collins caused the client to sustain damages on options. As a result, Morgan Stanley opted to settle the matter on January 4, 2024, by compensating the client in the amount of $225,000.
William Collins Disclosed Unauthorized Trading Allegations By MSSB Client
Also, a client of MSSB contested William Collins’s sales practices by filing FINRA Arbitration No. 20-01250. Allegedly, Collins engaged in unauthorized trading involving options and stocks. Therefore, MSSB opted to settle the matter on February 16, 2021, by compensating the client in the amount of $75,000.
Wells Fargo Advisors Investor Accused Collins Of Excessive Trading
Particularly, on May 19, 2017, a Wells Fargo Advisors client filed a complaint about William Collins. Supposedly, Collins engaged in excessive options trading and that the account was improperly invested. Because of this, the client allegedly sustained damages. As a result, the client requested compensation from Wells Fargo Advisors or Collins. The complaint was denied on June 15, 2017.
Investor Alleged Unauthorized Trading By William Collins
In addition, a client of MSSB contested William Collins’s sales practices, according to a complaint. Allegedly, Collins engaged in unauthorized transactions concerning variable annuities and stocks. Therefore, MSSB opted to settle the matter on November 22, 2016, by compensating the client in the amount of $8,973.25.
Did You Sustain Losses Because Of Collins?
Suffered losses because of William Collins? If you have, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about your legal options. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Collins and brokerage firms Collins worked for deny any allegations of sales practice violations.
