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

William Harvey is a Pennsylvania based securities broker. He has worked in the securities industry for twenty-five years. During his career, he has been registered with three different securities firms.

His Registrations

  • L.C. Wegard & Co. (1994)
  • Legg Mason Wood Walker, Incorporated (1994-2002)
  • Janney Montgomery Scott (2002-Present)

The Allegations

  • In October 2009, a customer alleged that William Harvey failed to provide suitable investment and tax advice regarding the tax consequences of her premature IRA distributions. This case was settled for $9,000 in damages.
  • In October 2016, a customer alleged that William Harvey made unsuitable investment recommendations. This case was settled for $30,000 in damages.
  • In November 2017, customers alleged that William Harvey executed unauthorized trades in their accounts, recommended unsuitable investments, and misrepresented the nature of the investments. This case was settled for $45,000 in damages.

Unauthorized Trading

One of the most noteworthy allegations levied against William Harvey was that he engaged in unauthorized trading in the accounts of his customers. Securities brokers are not allowed to execute trades on their customers’ behalf without first obtaining their authorization to do so. Just because an investor hires a securities broker does not mean they have forfeited their right to decide what securities they want to be invested in. Unauthorized trading can often lead to the customer experiencing loss.

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 Harvey, please contact Oakes & Fosher for a free and private consultation.