WestPark Capital Terminates Broker For Violating Policy

Alternative Investment Misconduct Lawyers

Kenneth Leopold Williams of Staten Island New York a stockbroker formerly registered with WestPark Capital Inc. has been terminated by the firm on May 24, 2017 based upon accusations that Williams failed to conform to WestPark Capital’s policies.

Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that this is not the first time that Williams has been terminated from a brokerage firm for alleged misconduct. Specifically, on December 5, 2007, Legend Merchant Group, Inc. discharged Williams founded on allegations that Williams failed to comply with the firm’s policies referenced within the firm’s supervisory procedures.

In addition, a customer initiated investment related arbitration claim regarding Williams’ conduct was resolved for $90,000.00 in damages supported by accusations that fiduciary duties owed to the customer had been breached, important information about equities had not been provided to the customer, and misrepresentations had been made concerning the customer’s investments. FINRA Arbitration No. 09-06486 (Apr. 7, 2011).

Thereafter, on January 5, 2017, a customer filed an investment related complaint involving Williams’ activities where the customer sought $100,000.00 in damages based upon accusations that Williams utilized margin without authorization, and executed over-the-counter equities trades without the customer’s permission.

Between June 23, 2017 and July 13, 2017, Williams was associated with J.H. Darbie & Co., Inc. Williams then became employed by Fordham Financial Management, Inc. from August 7, 2017 to June 15, 2018. Williams has been registered with First Standard Financial Company LLC since June 15, 2018.

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