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The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Walter G. Taylor. According to his publicly available FINRA BrokerCheck report, Walter G. Taylor has been the subject of a customer dispute and an employment termination.

Walter G. Taylor was a North Carolina based securities broker. He worked in the securities industry for twenty-seven years. During his career, he was registered with three different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • J.C. Bradford & Co. (1991-2000)
  • UBS Financial Services (2000-2009)
  • Wells Fargo Clearing Services (2009-2018)

The Allegations 

  • In February 2003, customers alleged that Walter G. Taylor made unsuitable investment recommendations and failed to adequately explain margin trading.
  • In June 2018, he was discharged from his position at Wells Fargo Clearing Services. This termination followed allegations that he failed to discuss trades with clients before executing them.

What Does This Mean?

Securities brokers are prohibited from executing trades on behalf of investors without first obtaining the investor’s authorization.  There is however a practice known as discretionary trading that allows a securities broker to execute trades in a client’s account without obtaining authorization for each one, but the broker must first obtain written authorization from the investor first.  This written authorization is necessary as it keeps the investor involved in the process and helps protect them against potential unsuitable investments made without their knowledge.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Walter G. Taylor, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.