William Worthen King (also known as Bill King), of Vero Beach, Florida, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, is the subject of a customer initiated investment related complaint filed on November 26, 2023, in which the customer requested compensatory damages based upon allegations that King engaged in unauthorized trading in options in 2022 when King was associated with Merrill Lynch Pierce Fenner Smith Incorporated.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that King was referenced in twenty-fiver (25) other customer initiated investment related disputes concerning King’s conduct while associated with securities broker dealers. On March 9, 2023, another customer initiated investment related complaint involving King’s conduct was settled for $20,000.00 in damages based upon allegations that King failed to follow instructions regarding stock liquidations in October of 2021.
On May 9, 2023, a customer initiated investment related complaint involving King’s conduct was settled for $100,000.00 in damages based upon allegations that King engaged in unauthorized trading between June of 2022 and September of 2022 during the time that he was associated with Merrill Lynch Pierce Fenner Smith Incorporated.
King was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $212,500.00 in damages based upon allegations that King used an inappropriate investment strategy that subjected the customer to increased market volatility between June of 2019 and July of 2022. FINRA Arbitration No. 22-01821 (June 12, 2023).
On September 27, 2023, a customer filed an investment related complaint involving King’s conduct in which the customer alleged that King made misrepresentations and engaged in unauthorized trading. The customers also allege that the stockbroker failed to act in their best interest when structured products were purchased in 2021.
On July 18, 2023, a customer filed an investment related FINRA securities arbitration claim involving King’s conduct in which the customer requested compensation based upon allegations that King engaged in unsuitable and unauthorized trading. FINRA Arbitration No. 23-02000. The claim also alleged that the stockbroker misused margin in the customer’s account.
King is also referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $4,000,000.00 in damages based upon allegations that King engaged in unauthorized trading, unsuitable recommendations, and misrepresentations of material fact in connection with the sale of options and stocks during the time that King was associated with Merrill Lynch Pierce Fenner Smith Incorporated. FINRA Arbitration No. 23-02047 (July 24, 2023).
On July 28, 2023, a different customer filed an investment related FINRA securities arbitration claim involving King’s conduct in which the customer requested damages ranging between $500,000.00 and $750,000.00 based upon allegations that King made misrepresentations of material fact and effected an unsuitable options strategy for the customer’s account. FINRA Arbitration No. 23-02082.
King was associated with Merrill Lynch Pierce Fenner Smith Incorporated in Vero Beach, Florida, from November 19, 1985, to May 4, 2023. On April 21, 2023, Merrill Lynch permitted King to resign based upon allegations of unsuitable and unauthorized trading in customers’ accounts.
