William John Paynter Jr. of Scottsdale, Arizona, a stockbroker formerly registered with UBS Financial Services Inc., is the subject of a customer initiated investment related arbitration claim on June 28, 2017, in which the customer requested $500,000.00 in damages based upon allegations of breach of contract, breach of fiduciary duty, negligence, and suitability regarding oil and energy stocks and limited partnership interests. The customers further alleged that their assets were over-concentrated in speculative investments between 2010 and 2017, and that UBS negligently supervised Paynter’s activities. FINRA Arbitration No. 17-01658 (June 28, 2017).
Financial Industry Regulatory Authority (FINRA) Public Disclosure also confirms that a customer initiated investment related arbitration claim concerning Paynter’s conduct was filed against Morgan Stanley Smith Barney, where the customer sought $500,000.00 in damages supported by allegations that unsuitable equities and corporate debt investments were effected in the customer’s account between 2013 and 2014.
Paynter’s registration with UBS Financial Services Inc. was terminated as of May 8, 2017. Since April 27, 2017, he has been employed with Wells Fargo Clearing Services, LLC.
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