man with head in handsAbed William Lulu, of Melville, New York, a stockbroker formerly registered with Worden Capital Management, was subject of the revocation of Lulu’s securities registration by Financial Industry Regulatory Authority (FINRA) based upon his failure to pay FINRA a $5,000.00 fine relating to a FINRA enforcement action in which Lulu was sanctioned for failing to make required disclosures. Letter of Acceptance, Waiver and Consent, No. 2014040347901 (Jan. 24, 2017).

FINRA Public Disclosure additionally confirms that Lulu has been has been suspended from associating with any FINRA member in any capacity based upon accusations that he failed to provide FINRA with information relating to his compliance with FINRA Arbitration No. 09-04558 (Aug. 6, 2013). He has also been suspended by Colorado Division of Securities based upon allegations of securities fraud, suitability and unauthorized trading in a customer’s account. Case No. XY 2004-001 (Oct. 13, 2004).

Moreover, Lulu has been identified in four customer initiated investment related disputes containing accusations of his improper conduct during the time he was associated with Laidlaw and Company (UK) Ltd., Global Arena Capital, Continental Broker Dealer Corp., and D.J. Cromwell Investment, Inc. In particular, on July 16, 2001, a customer filed an investment related written complaint involving Lulu’s conduct, where the customer sought $45,000.00 in damages founded on allegations of misrepresentation and suitability pertaining to over-the-counter equities transactions effected in the customer’s investment portfolio.

Subsequently, on January 28, 2004, a customer filed an investment related written complaint involving Lulu’s conduct, in which the customer requested $35,000.00 in damages based upon accusations that Lulu charged the customer with excessive commissions, churned the customer’s investment portfolio, and placed over-the-counter equities trades in the customer’s account without authorization.

Thereafter, on December 20, 2012, a customer filed an investment related written complaint involving Lulu’s conduct, where the customer sought $8,000.00 in damages supported by allegations that Lulu executed unauthorized over-the-counter equity share purchases of James River Coal and Arena Coal. Lulu has also been subject of a customer initiated investment related arbitration claim, which settled for $23,000.00 in damages founded on accusations that excessive and unsuitable stock and over-the-counter equities trades were placed in the customer’s investment account between 2014 and 2015. FINRA Arbitration No. 17-02227 (Oct. 17, 2017).

Lulu has been associated with nine broker-dealers which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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