William Wright Barred, Involved In Investor Dispute

Investor Dispute Reported On BrokerCheck Concerning Barred Broker William Wright

Soreide Law Group is reviewing BrokerCheck disclosures of securities broker William Wright (CRD#: 3048195, New York, New York). Evidently, Wright was a National Securities Corporation securities broker from February 2015 to November 2020. Let’s take a closer look at the allegations as reported on BrokerCheck. However, be mindful that the broker denies alleged unreasonable sales practices.

FINRA Issues Permanent Bar To William Wright For Alleged Refusal To Furnish Documents In Investigation

The regulator barred Wright as a securities broker in August 2021. Specifically, Wright agreed to a permanent bar to resolve allegations that he violated FINRA’s investigation-related rules for refusing to give it information and documents when requested. The securities broker’s termination by National Securities Corp was the focus of FINRA’s investigation. Notably, National Securities Corporation purportedly terminated Wright because he borrowed a client’s money.
Generally, brokers are prohibited from borrowing funds, and if they are caught doing so, they could face disciplinary action from FINRA. In this case, FINRA could not establish whether Wright borrowed client funds because the securities broker hindered the investigation.

National Securities Corp Client Alleges That William Wright Failed To Follow Instructions

Specifically, a National Securities Corp client expressed concerns about William Wright’s sales practices, as BrokerCheck shows that the client lodged an arbitration action in January 2021. Supposedly, the client sustained damages because of Wright’s failure to follow instructions concerning equities (common stock, preferred stock). For this reason, to resolve this ongoing investment dispute, the client asks for $65,000 in damages from the securities firm.

Did You Sustain Damages By Investing Through William Wright?

Did securities broker William Wright cause you to experience losses? You should call Soreide Law Group at (888) 760-6552 and talk with a helpful securities lawyer about a possible recovery of your losses. Soreide Law Group represents investor clients on a contingency fee basis and advances all costs. The firm has recovered meaningful compensation for investors in the US who incurred losses from their securities brokers or financial advisors. Please note that Wright denies all accusations of sales practice violations.