Williard Lee Golightly of Fresno California is a stockbroker formerly registered with SCF Securities Inc. and advisor employed by Alamo Asset Advisors who has been sanctioned by Financial Industry Regulatory Authority (FINRA) on December 14, 2016 based upon accusations that he failed to cooperate with his obligations to pay $155,000.00 in compensatory damages to a customer after having been found liable for committing violations of Texas Securities Act and breaching his fiduciary duties to the customer in regard to the customer’s real estate security and mutual fund transactions. FINRA Arbitration No. 14-00115 (Mar. 27, 2015).
This is not the first time that Golightly has been sanctioned by FINRA. Particularly, he has been barred from associating with any FINRA member in any capacity supported by consenting to findings that while registered with WFG Investments, Inc., he failed to supervise a registered representative who effected unsuitable trades in customer accounts, where FINRA found Golightly’s conduct to be violative of FINRA Rule 2010 and National Association of Securities Dealers (NASD) Rules 3010(a), 3010(b) and 3040(c)(2). Letter of Acceptance, Waiver and Consent, No. 2013038132001 (Sept. 16, 2015).
FINRA Public Disclosure reveals that a customer initiated investment related arbitration claim involving Golightly’s conduct was settled for $1,054,000.00 in damages founded on allegations that unsuitable penny stock and over-the-counter equities recommendations were made to the customer. FINRA Arbitration No. 14-02210 (Dec. 16, 2015). Then, a customer initiated investment related arbitration claim regarding Golightly’s activities was settled to resolve accusations including breach of contract, breach of fiduciary duty, negligence, omissions, misrepresentations, unauthorized trading, unsuitable investment recommendations and fraud in regard to the customer’s penny stock, alternative investment and private placement transactions. FINRA Arbitration No. 14-02306 (Feb. 4, 2016).
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