Victim of Financial Fraud? Call Now

State of Oregon Fines William Nichols

Jan 18, 2023 Regulatory Action

William Nichols (CRD #: 3208638), a broker formerly registered with Brokers International Financial Services, has been fined by the State of Oregon, according to his BrokerCheck record, accessed on January 12, 2023. If you want to know more about his alleged conduct as a broker, read on.

Regulatory Action by the State of Oregon

On October 27, 2022, the State of Oregon Division of Financial Regulation alleged that William Nichols made false statements on two insurance applications by failing to disclose that the funding for the indexed annuities came from the surrender of two variable annuities.

The state further alleged that William Nichols recommended that the client take possession of the surrendered funds and write personal checks to fund the new contracts, rather than use direct transfers.

The State of Oregon ordered William Nichols to cease and desist and fined him $11,000.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative or deceptive tactics, like the misrepresentation or omission of material facts, as they relate to the purchase and sale of securities.

Background Information

William Nichols has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

He previously worked for the following firms:

  • Brokers International Financial Services (CRD#:139627)
  • H. Beck (CRD#:1763)
  • Hornor, Townsend & Kent (CRD#:4031)
  • Brecek & Young Advisors (CRD#:40395)
  • Country Capital Management Company (CRD#:12060)

Kurta Law Can Help

If you worked with William Nichols 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.