Raymond James Terminates Stockbroker For Failure To Supervise
Michael Thomas Williams of Vero Beach Florida a stockbroker formerly registered with Raymond James Financial Services has been terminated from the securities broker dealer based upon accusations of Williams’ failure to supervise stockbrokers’ private correspondence with customers.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that Williams is the subject of a customer initiated investment related arbitration claim which has been settled for $100,000.00 in damages founded upon allegations that the customer’s account had been negligently supervised and that transactions violated FINRA rules during the period that Williams was associated with Raymond James.
According to the claim, a contract between the customer and the securities broker dealer had been violated because of Williams. A fiduciary duty which was owed to the customer had allegedly been breached by the stockbroker. The claim also alleges negligence and fraud relating to transactions executed by Williams while registered with Raymond James.
On June 22, 2020, Williams became associated with Ameriprise Financial Services as both a stockbroker and investment adviser representative.