The Financial Industry Regulatory Authority (FINRA) recently barred JJB Hilliard, WL Lyons broker Henry Watson. He was based out of the firm’s Greenville, South Carolina branch office. Watson was accused of allegedly purchasing shares of a security form without authorization and this is against securities rules. He also failed to appear for an on-the-record testimony and was subsequently barred. He was also accused of making unsuitable investments, unauthorized trading, portfolio mismanagement and excessive trading, among other claims. Brokers have an obligation to treat investors fairly which includes obligations such as making only suitable investment recommendations by taking into account such things as the client’s net worth, investment objectives and sophistication and age. He must do his due diligence on the investments as well. If he does not, his brokerage firm may be liable for investment losses on a contingency fee basis. To find out how to sue your brokerage firm, please call our securities law offices based in Chicago at 312-332-4200 today for your free consultation with an attorney.
According to his online FINRA BrokerCheck report, Watson was previously registered with Painewebber, Raymond James, NationsBanc Securities, NationsSecurities, Banc of America Investment Services, Edgar M. Norris & Co., Scott and Stringfellow in Greenville, South Carolina from August 2001 until February 2012 and JJB Hilliard WL Lyons in Greenville from January 2012 until October 2016. He has three customer disputes against him and has been barred from the industry.
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