William Francis Gillis, of Seattle, Washington, a stockbroker formerly registered with National Securities Corporation, has been named in a customer initiated investment related written complaint, which settled on May 22, 2017, for $80,000.00 in damages based upon allegations that he breached his fiduciary duties to the customer and negligently handled the customer’s investment account.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Gillis has been identified in twenty-two additional customer initiated investment related disputes containing allegations of his misconduct while employed at National Securities Corporation, Wells Fargo Advisors, LLC, and CIBC World Markets Corp. Specifically, on September 2, 2015, a customer initiated investment related arbitration claim involving Gillis’ conduct was settled for $175,000.00 in damages based upon allegations that he effected stock transactions in the customer’s account that were not suitable for the customer, and which had not been properly explained by Gillis.
Then, on July 29, 2015, a customer filed an investment related written complaint regarding Gillis’ activities, wherein the customer sought $300,000.00 in damages based upon allegations that Gillis poorly advised the customer about investing in stocks. Subsequently, on June 7, 2016, a customer initiated investment related arbitration claim regarding Gillis’ activities was resolved for $42,000.00 in damages, supported by allegations that Gillis breached his fiduciary obligations to the customer and effected unsuitable over-the-counter equities transactions in the customer’s investment account.
On February 16, 2017, another customer initiated investment related written complaint involving Gillis’ conduct was settled for $390,000.00 in damages based upon allegations against Gillis of misrepresentation and omissions, negligence, breach of fiduciary duty, and unsuitability in regard to the over-the-counter equities investments effected in the customer’s account. Furthermore, on February 18, 2017, a customer filed an investment related written complaint regarding Gillis’ activities, in which the customer sought $1,000,000.00 in damages founded by allegations that Gillis made unsuitable stock recommendations to the customer.
Gillis’ registration with National Securities Corporation was terminated on June 17, 2015.
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