William K. Tress (also known as William K. Tress Garcia) of Dorchester Massachusetts a stockbroker formerly employed by Santander Securities is the subject of a customer initiated investment related arbitration claim where the customer requested $111,522.41 in damages based upon accusations including (1) gross negligence (2) breach of contract (3) failure to supervise (4) breach of good faith and fair dealing (5) breach of fiduciary (6) violation of securities laws (7) suitability and (8) fraud in reference to mutual funds held in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02020 (Sept. 19, 2017).
FINRA Public Disclosure additionally reveals that a customer initiated investment related arbitration claim involving Tress’ conduct was settled for $410,000.00 in damages founded on allegations that contractual and fiduciary obligations had been breached, the customer’s account was handled negligently, transactions were effected in the customer’s account that were not suitable for the customer, and the customer had been defrauded. FINRA Arbitration No. 15-00882 (Aug. 28, 2017).
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