FINRA Sanctions William Torriente

Soreide Law Group is investigating possible investor claims against securities broker William Torriente AKA Ed Torriente and Eddy Torriente [CRD#: 4255814, Phoenix, AZ]. Evidently, FINRA sanctioned the securities broker, who worked for Comerica Securities. Allegedly, Torriente failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules. Here is a brief summary FINRA’s allegations against Torriente.

FINRA Sanctions Comerica Securities Broker William Torriente For Failure To Testify

Evidently, on July 7, 2022, FINRA issued Case #: 2020068406701 sanctioning William Torriente for infractions. Specifically, FINRA barred the securities broker. Notably, FINRA alleged that Torriente failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules.

Supposedly, on October 20, 2020, Comerica Securities filed a Uniform Termination Notice for Securities Regulation (Form U5) with FINRA alleging that Torriente had voluntarily ended his association with the firm while he was under review for placing transactions in client accounts that they were not aware of. Subsequently, on April 16, 2021, Comerica amended the Form U5, alleging that two separate clients complained that Torriente had exercised unauthorized discretion. Based on the allegations contained in Comerica’s Form U5, FINRA began an investigation into Torriente. On June 3, 2022, FINRA sent Torriente a letter requesting that he appear for on-the-record testimony. On June 17, 2022, through his counsel, Torriente indicated that he had received FINRA’s request but that he would not appear for on-the-record testimony at any time. Torriente violated FINRA Rules 2010 and 8210.

Comerica Securities Terminates Securities Broker For Unauthorized Transactions

Notably, Comerica Securities disaffiliated with Torriente. Evidently, Comerica Securities alleged that Torriente made unauthorized transactions.

William Torriente worked for Comerica Securities in Phoenix, AZ, as a securities broker from October 30, 2009 to October 20, 2020.

William Torriente Discloses Violation Of Securities Laws Allegations By Comerica Securities Client

Also, a client of Comerica Securities contested William Torriente’s sales practices by filing FINRA Arbitration #: 21-00671 on March 11, 2021. Allegedly, Torriente violated securities laws, made unauthorized transactions, breached a fiduciary duty, and violated FINRA rules. Supposedly, the options and ETFs which Torriente sold or recommended had caused the client to sustain damages. Therefore, the client seeks compensatory relief from Comerica Securities or Torriente in the amount of $500,000 in this ongoing matter.

Comerica Securities Investor Accuses Torriente Of Unauthorized Transactions

Evidently, on March 10, 2021, a Comerica Securities client filed FINRA Arbitration #: 21-00658 about William Torriente. Notably, the client alleged that Torriente violated securities laws, made unauthorized transactions, failed to follow the client’s instructions, breached a fiduciary duty, and violated FINRA rules. Because of this, the client sustained damages on equities, options, and ETFs. Therefore, the client requested $50,000,000 in compensation from Comerica Securities or Torriente. Evidently, this arbitration is pending a resolution.

William Torriente Discloses Unauthorized Transactions Allegations By Comerica Securities Client

Also, a client of Comerica Securities contested William Torriente’s sales practices, according to a complaint dated October 7, 2020. Allegedly, Torriente made unauthorized transactions. Supposedly, the ETNs which Torriente sold or recommended had caused the client to sustain damages. Therefore, the client seeks compensatory relief from Comerica Securities or Torriente in the amount of $306,242 in this ongoing matter.

Damages Resulting From Comerica Securities Broker Torriente?

Have you sustained damages by investing with William Torriente? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities attorney about a possible recovery of your investment losses. Notably, Soreide Law Group has effectively recovered money for investors in all 50 states. The firm represents clients on a contingency fee basis and advances all costs. Torriente and brokerage firms Torriente was employed by deny any and all allegations of sales practice violations.