William Charles Burks II (CRD #2944992) Has a Regulatory Action and Customer Dispute Disclosure on FINRA BrokerCheck
William Charles Burks II (CRD #2944992) has been the subject of disclosure events, which have recently been reported on his FINRA BrokerCheck Report. According to William Charles Burks II’s FINRA BrokerCheck report accessed on January 18, 2026, William Charles Burks II has been the subject of one regulatory event, one criminal disclosure, and five customer disputes. If you invested with William Charles Burks II and you have concerns about his activity, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Regulatory Action(s)
William Burks’s FINRA BrokerCheck Report reflects one regulatory event. A summary of the event is below:
On August 21, 2025, FINRA reported a regulatory action involving William Burks. According to the Acceptance, Waiver & Consent (AWC), and without admitting or denying the findings, William Burks consented to findings that he recommended that three customers invest an unsuitably high concentration of their accounts in alternative investments that were illiquid or had limited liquidity and subjected the customers to a substantial risk of loss. The findings stated that the investments included non-traded real estate investment trusts (REITs), business development companies (BDCs), and interval funds. FINRA further found that each of the three customers had a low or moderate risk tolerance and two had investment objectives of preserving capital and generating income, which was not reflected on the transaction paperwork submitted to the firm. FINRA imposed a $10,000 fine and suspended William Burks from all capacities for four months, from September 15, 2025 through January 14, 2026.
Source document: AWC (PDF)
Investor Disputes / Customer Complaints
William Burks’s FINRA BrokerCheck Report reflects five customer dispute disclosures. A summary of two disputes is below, with three additional customer disputes disclosed.
On November 24, 2025, a customer alleged that William Burks recommended a speculative, illiquid investment. The disclosure reflects the matter is pending, and the customer is seeking $80,000.00 in damages. The disclosure includes a broker comment from William Burks stating that he vehemently denies wrongdoing, asserts the allegations are without merit, and contends the investments were suitable and recommended based on the customer’s objectives, goals, and financial circumstances after reviewing the investment documentation and disclosures.
On August 20, 2024, a customer alleged that William Burks recommended unsuitable, illiquid, speculative investments and breached his fiduciary duty. The disclosure reflects the matter is pending, and the customer is seeking $200,000.00 in damages. The disclosure includes a broker comment from William Burks stating that he vehemently denies wrongdoing, asserts the allegations are without merit, and contends the investments were suitable and recommended based on the customer’s objectives, goals, and financial circumstances after reviewing the investment documentation and disclosures.
Criminal Charges
William Burks’s FINRA BrokerCheck Report reflects one criminal disclosure. A summary is below:
On June 23, 1982, a criminal charge for theft was reported. The disclosure reflects the matter was dismissed.
Rule summary #1: FINRA Rule 2111 (Suitability)
FINRA Rule 2111 (Suitability) requires brokers and firms to have a reasonable basis to believe a recommended transaction or investment strategy is suitable for the customer based on the customer’s investment profile and the facts of the recommendation.
Rule summary #2: FINRA Rule 2010
FINRA Rule 2010 is a broad, principles-based rule requiring members and associated persons to observe high standards of commercial honor and just and equitable principles of trade. FINRA frequently cites Rule 2010 in matters involving unethical conduct.
Why this Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.
Reg BI is built around four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
- Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
- Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
- Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.
Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.
Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on his BrokerCheck Report, William Burks:
- Is currently registered with Centaurus Financial, Inc.
- Has passed the Securities Industry Essentials (SIE), Series 7, Series 6, Series 65, Series 63, and Series 26 exams.
- Was previously registered with PFS Investments Inc.
Kurta Law Can Help
If you have worked with William Burks and you have concerns about his activity, Kurta Law may be able to help you evaluate potential recovery options. You may be entitled to pursue a claim through FINRA arbitration, depending on the facts of your situation and the investments involved. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
Helpful resources: Non-Traded REITs | Business Development Companies (BDCs)
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