The law firm of Oakes & Fosher is currently investigating the possible misconduct of former securities broker William Brunner. According to his publicly available FINRA BrokerCheck report, William Brunner has been the subject of multiple customer disputes.

William Brunner was a New York based securities broker. He worked in the securities industry for twenty-two years. During his career, he was registered with eight different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Sterling Foster & Company (1995-1997)
  • Royce Investment Group (1997-1999)
  • Investec Ernst & Company (1999-2002)
  • Sterling Financial Investment Group (2002-2005)
  • American Capital Partners (2008)
  • Pointe Capital (2005-2009)
  • First Midwest Securities (2009-2015)
  • Investment Planners (2015-2017)

The Allegations

  • In April 1998, a customer alleged that William Brunner failed to execute trades totaling damages of $5,000. This case went to arbitration and the customer was awarded approximately $7,500.
  • In July 2002, a customer alleged that he sustained losses from unsuitable investments, unauthorized trading, and churning. This case also went to arbitration. The claimant was awarded $99,500 in damages.
  • In September 2004, a customer alleged that William Brunner recommended unsuitable trades, traded against their investment objectives, and breached his fiduciary duty.
  • William Brunner resigned from his position at Investment Planners amidst allegations that he engaged in an unauthorized use of discretion.
  • In June 2017, a customer alleged negligence, breach of fiduciary duty, breach of contract, churning, unauthorized trading, and unsuitability of a corporate account. This case was settled for $200,000 in damages.
  • In April of 2018, William Brunner was sanctioned by FINRA. The findings state the FINRA requested Brunner to give on-the-record testimony due to an ongoing investigation into his possible excessive trading and use of discretion without written authorization. Brunner declined to appear for the on-the-record testimony and was subsequently barred by FINRA from acting as a broker in any fashion.

What Does This Mean?

One of the most noteworthy allegations levied against William Brunner was that of churning. Churning is a deceptive trading practice instituted by less than scrupulous securities brokers. It centers around a securities broker trading a customer’s account excessively with the express purpose of generating larger and additional commissions for themself. Despite its fraudulent nature, there are still a good deal of securities brokers that engage in this practice.

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 William George Brunner, 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.