Wayne Fitzgerald Ford of Farmingdale New York a stockbroker formerly registered with Salomon Whitney Financial is referenced in a customer initiated investment related arbitration claim which was settled for $17,000.00 in damages based upon accusations that (1) transactions effected in the customer’s account violated Louisiana Securities Act (2) fiduciary duties to the customer had been violated (3) contractual obligations to the customer had been breached (4) the customer was placed in unsuitable over-the-counter equities and (5) Salomon Whitney Financial failed to supervise Ford’s activities in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-00687 (Jan. 10, 2018).
FINRA Public Disclosure confirms that Ford has been identified in five more customer initiated investment related disputes containing allegations of his violative conduct during the time that he was associated with Salomon Whitney Financial, Rockwell Global Capital LLC, Harrison Securities Inc., and Westrock Advisors. In particular, a customer filed an investment related complaint regarding Ford’s activities where the customer requested $100,000.00 in damages supported by accusations that while Ford was associated with Harrison Securities Inc., unauthorized over-the-counter equities trades were executed in the customer’s account. Subsequently, a customer initiated investment related complaint concerning Ford’s conduct was settled to resolve allegations that Ford made unauthorized trades of over-the-counter equities in a customer’s account while associated with Harrison Securities Inc.
Thereafter, a customer filed an investment related complaint involving Ford’s conduct in which the customer sought $56,000.00 in damages founded on accusations that while Ford was associated with Westrock Advisors, trades executed in the customer’s account lacked the customer’s consent. Later, a customer initiated investment related arbitration claim involving Ford’s activities was settled for $10,000.00 in damages based upon allegations that contractual and fiduciary obligations to the customer had been violated; and the customer was defrauded in regard to the stock and over-the-counter equities transactions placed in the customer’s account. FINRA Arbitration No. 12-03684 (Jan. 27, 2014).
Another customer initiated investment related arbitration claim concerning Ford’s conduct was resolved for $125,000.00 in damages supported by accusations that while Ford was employed with Salomon Whitney Financial, Ford effected unauthorized trades in the customer’s account; churned the customer’s investment portfolio; placed the customer in inappropriate options and over-the-counter equities products; and engaged in activities without proper supervision by the firm. FINRA Arbitration No. 14-02534 (July 1, 2016).
FINRA Public Disclosure additionally reveals that Ford has been suspended from associating with any FINRA member in any capacity founded on allegations of Ford’s failure to comply with the terms of a customer initiated investment related settlement in FINRA Arbitration No. 14-02534; or Ford’s failure to inform FINRA as to whether he complied with the terms of the settlement. Letter No. 14-02534 (Jan. 25, 2017).
Ford’s registration with Salomon Whitney Financial has been terminated as of October 3, 2016. Since November 13, 1997, Ford has been associated with sixteen different broker dealers, fifteen of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
