William August Glaser, of St. Albans, Missouri, a stockbroker formerly registered with National Planning Corporation, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Glaser obstructed an investigation into allegations of him selling away from National Planning Corporation. Letter of Acceptance, Waiver and Consent, No. 2017054809301 (Sept. 5, 2017).
According to the AWC, Glaser was terminated by National Planning Corporation on June 26, 2017, founded by allegations that Glaser sold away from his firm; conduct that he acknowledged to his firm after a customer filed an investment related arbitration claim.
FINRA reportedly contacted Glaser on July 6, 2017, requesting that he provide documentation and information concerning the accusations referenced by National Planning Corporation. Apparently, FINRA never received a response to two requests made in that regard. Glaser evidently confirmed that the requests for information and documentation were received but declined to cooperate. FINRA found Glaser’s failure to cooperate with its investigation as conduct violative of FINRA Rules 2010 and 8210.
FINRA Public Disclosure reveals that on May 31, 2017, a customer filed an investment related arbitration claim regarding Glaser’s activities, in which the customer requested $406,632.00 in damages based upon accusations including breach of contract, suitability, breach of fiduciary duty, and violations of the Missouri Consumer Protection Act and Securities Act in reference to the customer’s promissory notes and variable annuity transactions. Moreover, the customer alleged that National Planning Corporation failed to supervise Glaser’s business activities.
Glaser has been associated with nine different broker dealers, one of which has been expelled by securities regulators for violation of federal securities laws or is otherwise defunct.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
