Financial Advisor Wills Henriquez Suspended By FINRA For 45 Days For Taking Discretion In Customer Accounts

• June 25, 2018
• Broker Discipline
• Unauthorized Trading
• Unsuitability

The Wolper Law Firm is currently investigating claims against Wills Henriquez, a former Financial Advisor at Network 1 Financial Securities in Brooklyn, NY.  Among Wills Henriquez’s prior employers were Newport Coast Securities, Legend Securities and Emerald Investments.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on June 21, 2018, Wills Henriquez was suspended by FINRA for forty-five (45) days.  Wills Henriquez “consented to the sanctions and to the entry of findings that he effected discretionary transactions in customers’ accounts without the customers providing him written authorization to utilize discretion and he did not obtain written authorization from his member firm to service the accounts on a discretionary basis.”

It is required by FINRA rules and other governing regulations that Financial Advisors obtain authorization for all trades placed in non-discretionary accounts prior to executing those trades.  If a trade is unauthorized, the customer may be entitled to rescission of the trade, plus any damages caused or commissions charged.

In addition to the regulatory disclosure, Wills Henriquez has been the subject of three (3) customer complaints.  Two of the complaints alleged that Wills Henriquez failed to manage their accounts the customer’s best interest.

https://brokercheck.finra.org/individual/summary/1872198

If you or someone you know was a customer of Wills Henriquez and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@67.43.6.64 to discuss your specific situation and the legal options available.  The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.