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Douglas Willmore Allegedly Engaged in Negligence

May 4, 2023 Negligence

Douglas Willmore (CRD #: 5115203), a broker formerly registered with Western International Securities, allegedly engaged in negligent conduct, according to his BrokerCheck record, accessed on April 25, 2023. Read on if you have questions about his alleged conduct as a broker.

Investor Disputes

On March 3, 2023, an investor named Douglas Willmore in allegations of negligence and violations of the suitability rule. This dispute is currently pending.

A dispute filed on January 30, 2020, alleged that Douglas Willmore engaged in misrepresentation. The dispute was denied by the firm.

However, investors should know that firms can deny disputes without allowing an external review. Investors may be able to recoup their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must examine the investor’s profile, which contains the following information about the client:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Investors who rely on brokers for investment recommendations can potentially recover their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent tactics to influence the purchase and sale of securities. This includes the misrepresentation or omission of information, such as an investment’s fees, risks, or requirements.

What qualifies as broker negligence?

Many types of broker misconduct may qualify as negligence. Typical examples include unauthorized trading, unsuitable investment recommendations, and misrepresentations or omissions of material fact.

Investors who have lost money through broker negligence may be able to recover their funds by seeking out FINRA arbitration.

Background Information

Douglas Willmore has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

He previously worked for Western International Securities (CRD#:39262) and Financial West Group (CRD#:16668).

Kurta Law Can Help

If you worked with Douglas Willmore and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.