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William Burke Embroiled in Dispute Alleging Misrepresentation

Jan 24, 2022 Investor Disputes

William Burke (CRD #:861889), a broker formerly registered with Wells Fargo Clearing Services, is involved in an investor dispute, according to his BrokerCheck record, accessed on December 28, 2021. According to the allegations filed on November 5, 2021, William Burke misrepresented the distribution of assets from a trust. The case is still pending. 

What is Misrepresentation? 

Misrepresentation is a common problem in the securities industry. It usually occurs when an investment broker makes false or misleading statements about a financial product in an effort to persuade their customer to invest.  

Did you know that any of the following can be considered misrepresentation or omission? 

  • Inadequate due diligence concerning security offerings 
  • Failure to disclose all material risks 
  • Failure to disclose all transaction costs 
  • Unrealistic investment return projections 
  • Inaccurate investment performance calculation 

Misrepresentations and omissions concerning material facts in investment recommendations deprive investors of the information they need to assess risks associated with a particular investment. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. This unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.  

Losses that can be attributed to a stockbroker's material misrepresentations of facts may result in a securities arbitration claim for damages. 

Background Information 

William Burke 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 31 - Futures Managed Funds Examination 
  • Series 7 - General Securities Representative Examination 
  • Series 4 - Registered Options Principal Examination 

Other than Wells Fargo Clearing Services, William Burke has also worked with the following firms: 

  • A. G. Edwards & Sons (CRD#:4) 
  • UBS Financial Services (CRD#:8174) 
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) 

Kurta Law Can Help 

If you have worked with William Burke and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com 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.