Nick Watne is Facing an Allegations of Misrepresentation and Conversion

Nick Watne (CRD #: 3135342), the Chief Operations Officer at Frost Brokerage Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on January 26, 2024. Keep reading if you have questions regarding his alleged conduct. 

On October 19, 2023, a civil action alleged that Nick Watne made misrepresentations that contributed to the alleged aiding and abetting of conversion/theft from a Frost Brokerage Services account. According to the allegations, Frost Brokerage Services wrongfully froze an account and conspired with other defendants to accomplish the conversion. 

The investor is seeking to recover $9.95 million. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Aiding and abetting conversion violates this rule.

Background Information 

Nick Watne has passed the following exams:

• Series 63 Uniform Securities Agent State Law Examination 
• Series 99TO Operations Professional Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 4 Registered Options Principal Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 
• Series 24 General Securities Principal Examination 

He is registered as a broker in Illinois, Indiana, Massachusetts, and Texas. 

Nick Watne has registered with the following firms: 

• Frost Brokerage Services (CRD #: 17465) 
• Zions Direct (CRD #: 17776) 
• Morgan Stanley DW (CRD #: 7556) 
• Morgan Stanley Dean Witter Online (CRD #: 34925) 
• Fidelity Brokerage Services (CRD #: 7784) 

Kurta Law Can Help 

If you have worked with Nick Watne and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.