William Friedman Suspended After Allegedly Failing to Comply with Arbitration Award
William Friedman (CRD #: 2475502), a broker formerly registered with Pinnacle Investments, has been suspended by FINRA for allegedly failing to comply with an arbitration award or settlement agreement, according to his BrokerCheck Record accessed on December 6, 2021.
On October 5, 2021, William Friedman was barred from association with any FINRA member in all capacities. William Friedman failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he was automatically barred from association with any FINRA member in all capacities.
William Friedman’s bar stems from a suspension. FINRa alleged that he failed to comply with a FINRA arbitration award. FINRA arbitration awards are binding, with only limited appeal rights. Registered representatives or firms subject to an adverse decision in award-related arbitration proceedings are required to pay an award within 30 days. Failure to take action could result in suspension. Notably, FINRA Rule 9554 contains expedited disciplinary procedures for a broker or broker-dealer's failure to comply with the terms of an arbitration award.
You can access the full arbitration details here.
- On March 26, 2021, a dispute was filed against William Friedman alleging unsuitable recommendations, misrepresentations, negligence/breach of fiduciary duty, unauthorized trading, and failure to supervise. The damage amount requested was $700,000 — the dispute is still pending.
- On February 3, 2021, a dispute was filed against William Friedman alleging elder abuse and unjust enrichment, along with investments in unsuitable securities. The dispute entered FINRA arbitration, and the arbitration panel awarded the investor $250,000. You can read a copy of the arbitration award here.
According to the Regulator Statement section of the disclosure, the award had not been paid by or on behalf of William Friedman as of October 5, 2021
Between 2015 and 2019, William Friedman was the subject of two tax liens that collectively total 12,845,611.61.
William Friedman has passed the following exams:
- Series 63 - Uniform Securities Agent State Law Examination
- SIE - Securities Industry Essentials Examination
- Series 7 - General Securities Representative Examination
- Series 10 - General Securities Sales Supervisor - General Module Examination
- Series 9 - General Securities Sales Supervisor - Options Module Examination
William Friedman has also worked with the following firms:
- Woodstock Financial Group (CRD#:38095)
- Newbridge Securities Corporation (CRD#:104065)
- Brookstreet Securities Corporation (CRD#:14667)
- Raymond James Financial Services (CRD#:6694)
- Charles Schwab & Co. (CRD#:5393)
- Muriel Siebert & Co.(CRD#:5376)
- Waterhouse Securities (CRD#:7870)
- L.C. Wegard & Co.(CRD#:3722)
- Chatfield Dean & Co.(CRD#:14714)
- J. Gregory & Company (CRD#:14892)
Kurta Law Can Help
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