William George Brunner of Huntington New York is a stockbroker and securities principal formerly registered with Investment Planners Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations that he traded in customer accounts on an excessive and unauthorized basis. Letter of Acceptance Waiver and Consent No. 2017056559401 (Apr. 6, 2018).
FINRA Public Disclosure reveals that Brunner was terminated from Investment Planners, Inc. on May 31, 2017 based upon a customer’s accusations that Brunner exercised discretion in the customer’s account. According to the AWC, FINRA launched an investigation into Brunner’s activities, where on March 6, 2018, FINRA requested that Brunner provide recorded testimony before FINRA personnel to discuss the allegations of his unauthorized and excessive trading in multiple customer accounts during the period that Brunner had been employed by Investment Planners, Inc. The AWC stated that Brunner corresponded with FINRA on March 13, 2018, in which he communicated his understanding of FINRA’s request but declined to testify for FINRA personnel. FINRA found that Brunner’s refusal to cooperate in that regard was violative of FINRA Rules 2010 and 8210, which led to his permanent bar.
This is not the first time that Brunner has been sanctioned by a securities regulator for committing improper conduct. Specifically, Brunner has been fined $20,000.00, censured and suspended from associating with any National Association of Securities Dealers (NASD) member in any capacity based upon consenting to findings that he made fraudulent price predictions to customers during the time in which he made securities recommendations; omitted and misrepresented investment related information to customers; and neglected to abide by a customer’s instructions to sell positions from the customer’s account. Letter of Acceptance Waiver and Consent No. C3A980057 (Nov. 13, 1998). NASD concluded that Brunner’s conduct was violative of NASD Rules 2120 and 2110.
Moreover, FINRA Public Disclosure confirms that Brunner has been identified in five additional customer initiated investment related disputes containing accusations of Brunner’s misconduct during the time he was registered with Investec Ernst & Company, Investment Planners, Inc. and Sterling Financial Investment Group, Inc. Specifically, on September 22, 2004, a customer filed an investment related complaint involving Brunner’s conduct in which the customer sought $250,000.00 in damages supported by allegations that equity transactions were placed in the customer’s account that were not suitable for the customer, and fiduciary duties owed to the customer had been breached.
Thereafter, Brunner was subject of a customer initiated investment related civil action where the customer received a judgment of $99,500.00 in compensatory damages to resolve the customer’s claims of unauthorized trading, fraud, churning, suitability, breach of contract, breach of fiduciary duty and negligence relating to over-the-counter equities transactions placed in the customer’s account. Civil Action No. 2004-1065 (Sept. 26, 2005).
On May 10, 2017, another customer filed an investment related complaint regarding Brunner’s activities where the customer requested $1,000,000.00 in damages founded on accusations of omissions, unauthorized trading and suitability of equity transactions placed in the customer’s account. Subsequently, a customer initiated investment related arbitration claim pertaining to Brunner’s activities was resolved for $200,000.00 in damages supported by allegations of negligence, suitability, churning, unauthorized trading, breach of fiduciary duty and breach of contract relating to the equity transactions that had been executed in the customer’s account. FINRA Arbitration No. 17-01437 (Mar. 7, 2018).
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