Scott Douglas Williams of Franklin Tennessee a stockbroker formerly employed by LPL Financial has been identified in a customer initiated investment related arbitration claim which has been resolved for $61,050.00 in damages founded on accusations that the customer’s account had been churned and that unsuitable penny stocks and equities were traded in the customer’s LPL Financial account from March of 2017 to March of 2018. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00481 (May 15, 2019).
FINRA Public Disclosure indicates that Williams is also referenced in a customer initiated investment related complaint in which the customer requested $112,010.94 in damages supported by allegations of the customer’s investment instructions being disregarded by Williams when he was employed by JJB Hilliard WL Lyons LLC.
LPL Financial discharged Williams on July 10, 2018 based upon accusations that mutual fund transactions were effected by the stockbroker on a discretionary basis in violation of the securities broker dealer’s policy.
