William Forrest Winchester III (also known as Bill Woods), of Chattanooga, Tennessee, a stockbroker registered with Raymond James Financial Services Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $62,500.00 in damages based upon allegations that Winchester made misrepresentations of material fact in connection with the sale of investments when Winchester was associated with Raymond James Financial Services Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 2021-066484 (December 7, 2022).
FINRA Public Disclosure shows that Winchester is referenced in two other customer initiated investment related disputes concerning Winchester’s conduct while associated with Raymond James Financial Services Inc. On January 7, 2020, a customer initiated investment related FINRA securities arbitration claim involving Winchester’s conduct was settled for $7,500.00 in damages based upon allegations that Winchester breached his fiduciary duties to the customer, was negligent, negligently supervised certain representatives, made unsuitable recommendations to the customer, breached a contract, and violated FINRA rules in connection with the sale of options. FINRA Arbitration No. 18-01388.
On November 8, 2022, a customer initiated investment related FINRA securities arbitration claim involving Winchester’s conduct was settled for $160,000.00 in damages based upon allegations that Winchester borrowed customer funds. FINRA Arbitration No. 21-02846.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Winchester has been fined $45,000.00 by Tennessee Securities Division Consent Order because Winchester failed to disclose to Raymond James Financial Services that he maintained loans with customers. Consent Order No. 20-034 (June 11, 2020). As part of the sanctions, the regulator required that Winchester be placed on heightened supervision as a condition of maintaining registration in the state.
On February 20, 2020, Raymond James Financial Services Inc. discharged Winchester based upon allegations that Winchester borrowed customer funds.
