William Edward Torriente Jr. (also known as Ed Torriente and as Eddy Torriente) of Phoenix Arizona a stockbroker formerly registered with Comerica Securities is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $500,000.00 in damages founded on accusations that Torriente breached a fiduciary duty to the customer in reference to exchange traded fund and options transactions. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00671 (Mar. 31, 2021). According to the claim, an options transaction was effected in violation of FINRA Rules 2010 and 2010 and in violation of Arizona Securities Act. The claim also alleges unauthorized discretion by the stockbroker.
FINRA Public Disclosure reveals that Torriente has been identified in two additional customer initiated investment related disputes involving accusations of his harmful activities when he was associated with Comerica Securities. On September 24, 2020, a customer filed an investment related complaint concerning Torriente’s conduct in which the customer requested $306,242.00 in damages supported by allegations of unauthorized exchange traded note transactions in the customer’s account by Torriente in June of 2020 when he was associated with Comerica Securities.
Torriente is also the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $50,000,000.00 in damages based upon accusations of the violation of Arizona securities laws and FINRA rules as it pertained to the customers’ investments in exchange traded funds, options and equities through Torriente at Comerica Securities. FINRA Arbitration No. 21-00658 (Mar. 18, 2021). The claim alleges breach of fiduciary duty. According to the claim, Torriente used discretion without the customer’s permission and had failed to follow instructions.
The stockbroker was registered with Comerica Securities between October 30, 2009 and September 21, 2020, at which point his registration was terminated by Comerica Securities founded on allegations of him making unauthorized trades in customer accounts.
