William Francis Gillis of Seattle Washington a stockbroker formerly registered with National Securities Corporation is referenced in a customer initiated investment related arbitration claim which settled for $514,600.00 in damages based upon accusations that Gillis gave the customer bad investment recommendations particularly concerning the common or preferred stocks held in the customer’s account while Gillis was employed by National Securities Corp. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01748 (Sept. 5, 2018).
FINRA Public Disclosure confirms that Gillis has been identified in twenty-three additional customer initiated investment related disputes pertaining to allegations of his misconduct during the time that he was associated with securities broker dealers including National Securities Corporation. Specifically, a customer initiated investment related arbitration claim regarding Gillis’ activities was resolved for $390,000.00 in damages founded on accusations that misrepresentations and omissions had been made concerning over-the-counter equities held in the customer’s account; fiduciary obligations were breached; the customer’s account had been handled with poor care; and the customer was placed into inappropriate investments. FINRA Arbitration No. 15-03146 (Feb. 16, 2017).
On May 22, 2017, a customer initiated investment related complaint in regards to Gillis’ conduct was settled for $14,999.00 in damages supported by allegations that unauthorized trades were effected in the customer’s account. Then, a customer initiated investment related arbitration claim involving Gillis’ activities was resolved for 80,000.00 in damages based upon accusations that fiduciary duties were violated, and the customer’s account was handled in a negligent manner, resulting in the customer sustaining undue losses on over-the-counter equities holdings. FINRA Arbitration No. 16-00273 (May 22, 2017).
Subsequently, a customer initiated investment related arbitration claim concerning Gillis’ conduct was settled for $12,500.00 in damages founded on allegations that false or misleading statements had been made to the customer; transactions failed to be suitable; and fiduciary duties owed to the customer had been breached. FINRA Arbitration No. 17-01813 (Oct. 31, 2017). Another customer initiated investment related arbitration claim regarding Gillis’ activities was resolved for $140,000.00 in damages supported by accusations of fiduciary and contractual duties being breached; false or misleading statements and omissions being made to the customer concerning equities; and negligent administration of the customer’s account. FINRA Arbitration No. 16-01606 (Nov. 7, 2017).
Moreover, a customer filed an investment related arbitration claim involving Gillis’ conduct in which the customer sought $343,518.00 in damages based upon allegations of breach of fiduciary duty, misrepresentation, breach of contract and negligence concerning the over-the-counter equities sold to the customer. FINRA Arbitration No. 18-02549 (Aug. 10, 2018).
Gillis’ employment with National Securities Corporation has been terminated as of June 17, 2015.
