FINRA sanctioned William Nicholas Pugh (CRD: 4855771), a former securities broker in Los Angeles, California. Pugh worked for Columbia Capital Securities Inc. from August 30, 2021, to September 15, 2024. His Financial Industry Regulatory Authority (FINRA) BrokerCheck record shows that the regulatory action against him concerned private securities transactions. Here is a closer look at FINRA’s findings and the outcome.
On August 11, 2026, FINRA suspended Pugh for 10 months and fined him $10,000 in Case No. 2024083338701. His suspension began that day and is scheduled to end on June 10, 2027. FINRA alleged that Pugh participated in securities transactions outside his regular work at Columbia Capital Securities.
According to FINRA, the transactions took place between April and August 2024, while Pugh worked at Columbia Capital Securities. They involved promissory notes issued by a private equity fund.
FINRA said Pugh held an interest in the fund as a limited partner. He also owned 3% of the entity serving as the fund’s general partner and worked for it as an independent contractor.
FINRA alleged that Pugh identified prospective investors, arranged and attended meetings, followed up with investors, and helped with purchases of the notes and transfers of money. According to FINRA, the offering raised at least $8 million from 18 accredited investors, nearly all of whom were Columbia Capital Securities clients.
FINRA found that Pugh’s work on the offering fell outside his normal duties at Columbia Capital Securities and that he had not given the firm advance written notice of his involvement.
The case stemmed from FINRA’s review of a Form U5 filed by Columbia Capital Securities. In the filing, Columbia reported that it had accepted Pugh’s resignation while investigating allegations that he had engaged in securities activity outside the firm without notifying it or obtaining its approval.
FINRA concluded that Pugh violated Rules 3280 and 2010. Rule 3280 requires people associated with brokerage firms to notify their firms in writing before taking part in certain private securities transactions. Rule 2010 generally requires securities professionals to conduct their business ethically and fairly.
Pugh resolved the matter through a Letter of Acceptance, Waiver, and Consent. He consented to FINRA’s findings without admitting or denying them. During the 10-month suspension, Pugh cannot associate with a FINRA member firm in any capacity.
Investors who believe they suffered losses because of William Pugh can contact Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney about possible recovery of their investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Pugh resolved the FINRA action without admitting or denying the findings.
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