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Investors Seek $3 Million Damages in Disputes with William Huthnance

William Huthnance (CRD #: 4326519), a broker registered with UBS Financial Services, is involved in several pending disputes, according to his BrokerCheck record, accessed on May 22, 2022. Keep reading if you have questions about William Huthnance’s conduct as a broker.

Allegations of Unsuitable Investment Recommendations, Misrepresentation

Investors named William Huthnance in disputes filed in February 2022 and September 2019 alleging he gave them unsuitable recommendations to invest in and hold an options overlay strategy during time periods collectively spanning 2016-2019. The clients also allege that William Huthnance misrepresented these strategies.

The investors seek a collective $1,800,000 in damages in these pending disputes.

Another pending dispute, filed on April 30, 2020, also alleges William Huthnance made unsuitable recommendations to invest in and hold an options overlay strategy, as well as recommending unsuitable hedge funds, structured notes, and private equity funds. The client also alleges William Huthnance misrepresented these investments. The investor sought $1,200,000; the dispute settled for $580,000. 

FINRA Rules 2111 and 2020

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age. Brokers must recommend suitable investments and investment strategies to remain in compliance with this rule.

Misrepresentation violates FINRA Rule 2020, which forbids the use of deceptive, manipulative, and otherwise fraudulent means of influencing the purchase and sale of securities.

Investors who rely on their brokers for recommendations may be able to recover losses caused by unsuitable or misrepresented investments by seeking out FINRA arbitration.

Background Information

William Huthnance has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

William Huthnance is a registered broker in 28 states and the District of Columbia. He is also a registered investment adviser in Colorado, Mississippi, and Texas.

He has also worked for the following firms:

  • Credit Suisse Securities (USA) (CRD#:816)
  • Morgan Stanley & Company (CRD#:8209)

Kurta Law Can Help

If you worked with William Huthnance 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.