Walter Warren Parker of Rowlett, Texas, a stockbroker currently associated with Titan Securities, is the subject of a Financial Industry Regulatory Authority (FINRA) investigation into Parker’s involvement in potentially unsuitable direct participation program transactions. FINRA Investigation No. 20160504921 (Nov. 15, 2017).
FINRA Public Disclosure reveals that Parker has been identified in seven customer initiated investment related disputes pertaining to allegations of Parker’s wrongdoing during the time he was associated with Titan Securities. Particularly, on August 31, 2012, a customer filed an investment related written complaint involving Parker’s conduct, where the customer requested $200,000.00 in damages supported by accusations that Parker made unsuitable investment recommendations to the customer concerning senior life settlements and real estate investment trusts.
Another customer initiated investment related arbitration claim regarding Parker’s activities was resolved for $15,500.00 in damages founded on accusations that the customer was sold an unsuitable investment and not adequately apprised of risks and liquidity of United Development Funding investments. FINRA Arbitration No. 16-01929 (Mar. 13, 2017). Then, on June 8, 2017, a customer complaint regarding Parker’s activities was resolved for $37,119.00 in damages supported by allegations that the customer was not informed about the illiquidity of investing in real estate investment trust products.
Thereafter, an arbitration claim involving Parker’s conduct was settled for $70,000.00 in damages based upon accusations of suitability relating to United Development Funding investments. FINRA Arbitration No. 16-02349 (June 9, 2017). Further, a customer filed an investment related arbitration claim regarding Parker’s activities, in which the customer sought $300,000.00 in damages founded on allegations of over-the-counter equities transactions having been effected in the customer’s account that were not suitable for the customer. FINRA Arbitration No. 17-02747 (Oct. 11, 2017).
Subsequently, a customer initiated investment related arbitration claim pertaining to Parker’s conduct was settled for $60,000.00 in damages based upon allegations of suitability and misrepresentation in regard to the customer’s viatical settlement transaction. FINRA Arbitration No. 15-02351 (Oct. 16, 2017). On November 15, 2017, another written complaint was filed by a customer, where the customer sought $54,328.54 in damages supported by accusations of unsuitable ARC NYC and UDF investments.
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