William Wesley Marshall of Plano, Texas, a stockbroker currently registered with Ameriprise Financial Services, Inc., is the subject of a customer initiated investment related arbitration claim, in which the customer requested $200,000.00 in damages based upon allegations of omissions and misrepresentations and unsuitable investment recommendations relating to the sales of unregistered corporate debt securities. FINRA Arbitration No. 17-02241 (Sept. 21, 2017).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Marshall is the subject of four additional customer initiated investment related disputes pertaining to allegations of Marshall’s improper conduct while employed with Hilltop Securities Inc. and Ameriprise Financial Services.
Specifically, he is subject of a customer initiated investment related arbitration claim, in which the customer requested $100,001.00 in damages supported by allegations that Marshall made misrepresentations to the customer, and failed to conduct adequate due diligence concerning common stock purchase warrants issued by Colorado Rare Earths, Inc. FINRA Arbitration No. 17-01575 (June 29, 2017). Apparently, Marshall incorrectly labeled the investment as conservative and low risk.
Thereafter, a customer filed an investment related arbitration claim involving Marshall’s conduct, in which the customer requested $350,000.00 in damages based upon allegations against of Marshall of selling away, and making investment recommendations that were neither represented accurately nor suitable for the customer. FINRA Arbitration No. 17-01564 (June 7, 2017). Subsequently, a customer filed an investment related arbitration claim regarding Marshall’s activities, in which the customer requested $200,000.00 in damages based upon allegations that Marshall effected transactions in BioChemics stock outside Ameriprise’s auspices, and omitted facts regarding Marshall’s relationship to BioChemics. FINRA Arbitration No. 17-01801 (July 12, 2017).
Further, a customer filed an investment related arbitration claim regarding Marshall’s activities, wherein the customer requested $200,000.00 in damages founded upon allegations that Marshall made recommendations relating to Colorado Rare Earths, Inc. and WestMountain Index Advisor, Inc. – both of which were purported to be fraudulent investments. FINRA Arbitration No. 17-02240 (Sept. 19, 2017).
The complaints come after Marshall was assessed a $10,000.00 fine and fifteen-month suspension from associating with any FINRA member in all capacities. Letter of Acceptance, Waiver and Consent, No. 2012033291204 (Feb. 9, 2016). Marshall consented to findings that he sold $1,720,000.00 in preferred stock away from his firm, participated in unapproved outside business activities, and disseminated misleading sales literature regarding BioChemics Inc. to investors. FINRA found Marshall’s conduct violative of FINRA Rules 2010, 3270, and NASD Rules 2210 and 3040.
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