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

William Braun is a Florida based securities broker. He has worked in the securities industry for thirty-five years. During his career, he has been registered with eight different securities firms.

His Registrations

  • Vantage Securities of Colorado (1984)
  • The Stuart-James Company (1984)
  • Michelin and Company (1984-1987)
  • J.W. Gant & Associates (1987-1992)
  • Corporate Securities Group (1992-1994)
  • JWGenesis Securities (1994-2000)
  • Janney Montgomery Scott (2000-2007)
  • National Securities Corporation (2007-Present)

The Allegations

  • In October 2019, a customer alleged that William Braun breached his fiduciary duty, handled their account negligently, and recommended unsuitable investments. This case is presently pending. The customer is seeking $200,000 in damages.
  • In November 2019, a customer alleged that William Braun recommended unsuitable securities, handled their account negligently, and breached his fiduciary duty. This case is currently pending. The customer is seeking $65,000 in damages.
  • Also in November 2019, a customer alleged that William Braun recommended a highly unsuitable private placement. This case is also currently pending. The customer is seeking $200,000 in damages.

What Does This Mean?

Private placements are privately traded securities not traded on any public securities exchanges. Because of this, they are poorly regulated and can be quite harmful to investors. Many brokers pitch private placements to their customers as lucrative investments they won’t want to miss out on. However, the truth is that private placements are speculative and illiquid investments that are highly unsuitable for investors. Despite this, they are continuously recommended to investors by securities brokers like William Braun because of the excessively high commissions that recommending brokers receive when the transaction is executed. This creates a significant conflict of interest, which leads to these types of products being recommend to highly unsuited investors.

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 Braun, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.