Thomas Brian Swan, of Westlake Village, California, a stockbroker registered with Western International Securities Inc., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested $50,000.00 in damages based upon allegations that Swan misrepresented material facts in connection with the sale of corporate bonds when Swan was associated with Western International Securities Inc. FINRA Arbitration No. 23-03501 (December 28, 2023).
FINRA Public Disclosure shows that Swan is referenced in six other customer initiated investment related disputes concerning Swan’s conduct while associated with securities broker dealers. On April 26, 2021, a customer initiated investment related FINRA securities arbitration claim involving Swan’s conduct was settled for $110,000.00 in damages based upon allegations that Swan made misrepresentations about variable annuities during the time that Swan was associated with Western International Securities Inc. FINRA Arbitration No. 20-02766.
On May 12, 2023, a securities arbitration claim involving Swan’s conduct was settled for $32,693.09 in damages based upon allegations that Swan made unsuitable recommendations to the customer. FINRA Arbitration No. 22-01709.
On December 2, 2023, a securities arbitration claim involving Swan’s conduct was settled for $14,000.00 in damages based upon allegations that Swan was negligent in connection with the sale of corporate bonds. FINRA Arbitration No. 23-00803.
On June 28, 2023, a customer filed a securities arbitration claim involving Swan’s conduct in which the customer requested $5,000.00 in damages based upon alleged negligence and misrepresentation by Swan. FINRA Arbitration No. 23-01805.
Swan is also referenced in a securities arbitration claim in which the customer requested between $50,000.00 and $100,000.00 in damages based upon allegations that Swan made misrepresentations of the features of corporate bonds. FINRA Arbitration No. 23-02332 (December 14, 2023).
On June 15, 2022, the United States Securities and Exchange Commission brought an enforcement action against Swan based upon allegations that Swan failed to understand the costs, risks, and rewards associated with GWG Class L Bonds, and recommended these products to customers without an adequate basis. United States Securities and Exchange Commission v. Western International Securities Inc. et al., Complaint No. 2:22-cv-04119.
Swan has been associated with Western International Securities Inc. in Westlake Village, California as a stockbroker since May 27, 2008, and as an investment advisor representative since October 14, 2014.
