William Sideny Friedman (also known as Willie Friedman and Bill Friedman), of Boca Raton, Florida, a stockbroker registered with Newbridge Securities Corporation, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim in which the customer requested compensation based upon allegations that Friedman breached a contract, breached his fiduciary duties, made unsuitable recommendations, committed fraud, and negligently supervised certain representatives in connection with the sale of securities during the time that Friedman was associated with Newbridge Securities Corporation. FINRA Arbitration No. 23-00285 (February 3, 2023).
FINRA Public Disclosure shows that Friedman is referenced in four other customer initiated investment related disputes concerning Friedman’s conduct while associated with securities broker dealers, including Newbridge Securities Corporation. On February 8, 2016, a customer initiated investment related FINRA securities arbitration claim involving Friedman’s conduct was settled for $10,000.00 in damages based upon allegations that Friedman breached his fiduciary duties and made unsuitable recommendations of mutual funds, stocks, and corporate bonds when Friedman was associated with Newbridge Securities Corporation. FINRA Arbitration No. 15-02209.
On July 30, 2021, a customer initiated investment related FINRA securities arbitration claim involving Friedman’s conduct resulted in the customer being awarded $250,000.00 in compensatory damages because Friedman was held liable for sales practice violations. FINRA Arbitration No. 21-00298. The Statement of Claim alleged Friedman committed fraud, was negligent, violated state securities laws, breached a contract, breached his fiduciary duties, made omissions and misrepresentations of material fact, engaged in unauthorized and excessive trading, and committed elder abuse during the time that Friedman was associated with Pinnacle Investments LLC.
Friedman was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $50,000.00 in damages based upon allegations that Friedman engaged in unauthorized trading, breached his fiduciary duties, was negligent, made misrepresentations of material fact, made unsuitable recommendations, and failed to supervise certain representatives in connection with the sale of stocks when Friedman was associated with Woodstock Financial Group Inc. FINRA Arbitration No. 21-00808 (February 4, 2022).
FINRA Public Disclosure shows that Friedman has been barred from associating with any FINRA member in any capacity because Friedman failed to respond to FINRA’s request for information. Letter No. 2021070752201 (October 5, 2021). Friedman was issued a Notice of Suspension on July 2, 2021, and a Suspension from Association letter on July 26, 2021. He did not ask for his suspension to be lifted by FINRA within three months of the date he was issued the Notice of Suspension.
Friedman was associated with Newbridge Securities Corporation as a stockbroker from June 29, 2007, to November 1, 2017. He was associated with Woodstock Financial Group Inc. as a stockbroker from October 27, 2017, to December 9, 2019, and associated with Pinnacle Investments LLC as a stockbroker from January 27, 2020, to October 2, 2020.
