Published On: September 2, 2016

Timothy Payne, a former registered broker with Wilbanks Securities, recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Payne was accused of engaging in dishonest and unethical practices in the securities, investment and/or insurance business by the State of Missouri. He was ordered to pay $17,750 in restitution ($10,000 of which is suspended provided he complies with the terms of the Consent Order and the Missouri Securities Act) and a $20,000 civil penalty, which was also suspended. For this, Payne was barred from the industry. Payne was registered with MML Investors Services, Wilbanks Securities in Oklahoma City, Oklahoma from August 1999 until March 2008, Sagepoint Financial, Wilbanks Securities in Oklahoma City from June 2009 until February 2014, Investors Capital and Adirondack Trading Group. He is not currently registered with any member firm and has one customer dispute against him. He is not licensed within the industry. Please call our law offices today to speak to an attorney about your options of suing Wilbanks Securities in the FINRA arbitration forum. The firm may be responsible for investment losses because it did not properly supervise Payne and allowed him to make transgressions. The call to us is free. 312-332-4200.

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