Securities Lawyers Blog
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Thomas Williams (Williams) has been subject to five customer complaints and one termination for cause during his career. Williams is currently employed by IFS Securities. Several of the the customer complaints against Williams concern allegations of high frequency trading activity also referred to as churning and unsuitable investments.
In October 2018 a customer filed a complaint alleging their account was excessively traded, churning, and unsuitable investments. The claim alleged $50,000 in damages and is currently pending.
In August 2010 Williams was terminated by First Allied Securities, Inc. (First Allied) in connection with allegations that a customer complained over unsuitable investments, misrepresentation, and breach of fiduciary duty.