William Bryson Baum, of St. Louis, Missouri, a stockbroker currently registered with Great American Investors, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unauthorized business communications with the firm’s customers and concealed his conduct from Great American Investors in that regard. Letter of Acceptance, Waiver and Consent, No. 2015048070901 (July 25, 2017).
FINRA Public Disclosure reveals that Baum has been subject of six customer initiated investment related disputes pertaining to allegations of his wrongdoing while he was associated with General Securities Corporation and Great American Investors and First Union Securities, Inc. Particularly, on September 10, 2001, a customer filed an investment related written complaint involving Baum’s conduct, in which the customer requested $5,000.00 in damages supported by accusations of negligence, misrepresentation and churning of the customer’s equity portfolio.
On February 15, 2017, another customer initiated investment related arbitration claim involving Baum’s conduct was settled for $30,000.00 in damages based upon allegations that Baum mismanaged the customer’s investment portfolio between May of 2015 and July of 2015. Moreover, on March 17, 2017, a customer initiated investment related arbitration claim regarding Baum’s activities was resolved for $112,500.00 in damages founded on accusations that Baum negligently handled the customer’s account, over-concentrated the customer’s investments and effected excessive options and equities trades.
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