William R. Hambrecht— Outside Business Activity
William R. Hambrecht Allegedly Failed to Disclose Eight Unsatisfied Judgments in a Timely Fashion Relating to Outside Businesses Totaling Approximately $22.5 Million
William R. Hambrecht allegedly willfully failed to amend his Form U4 in order to timely disclose eight unsatisfied judgments, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).
Said judgments relate to outside businesses totaling approximately $22.5 million, which were entered against him between April 2012 and August 2013, the aforementioned AWC also notes.
William R. Hambrecht Suspended and Fined $15,000 by FINRA for Allegedly Failing to Disclose Eight Unsatisfied Judgments
William R. Hambrecht, who first entered first became registered with FINRA in May 1968, allegedly failed to disclose his outside business activity when answering the question on his Form U4 which asks: Do you have any unsatisfied judgments or liens against you?”, according to the AWC.
William R. Hambrecht, who, from July 1998 to March 2016, was registered through W.R. Hambrecht & Co., allegedly did not disclose said judgments on his Form U4 until either April 2014 or July 2014, the AWC notes.
Based on the foregoing, Hambrecht allegedly violated FINRA Rules, and thus drawing the aforementioned fine and suspension, the AWC reports. One should also note that, according to the AWC, William R. Hambrecht neither admitted nor denied the FINRA findings.
The Peiffer Wolf Carr & Kane Securities Lawyers Often Assist Investors
The Peiffer Wolf Carr & Kane securities lawyers assist investors who lose money as a result of brokers engaging in undisclosed outside business activities. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of brokers conducting undisclosed outside business activities are encouraged to contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.