According to a FINRA Disciplinary Action disclosure, William Lewis Tatro IV (CRD #808176, Newark, New York) recently was barred from association with any FINRA member in any capacity. The NAC dismissed his appeal as abandoned. The sanction was based on a hearing panel’s findings that Tatro failed to respond to FINRA requests for information and documents in connection with its investigation to determine whether Tatro had violated federal securities laws or FINRA rules in connection with customer complaints alleging fraud, breach of fiduciary duty, unauthorized transactions, breach of contract, negligence, and negligent or reckless failure to supervise.
The findings stated that Tatro admitted that he received both information requests but did not provide any of the requested information and documents because he had filed for bankruptcy, and believed the bankruptcy court had stayed all actions against him, including his obligation to provide information and documents to FINRA. Even after FINRA sent Tatro a letter advising him that it would not seek monetary sanctions against him because of the bankruptcy, Tatro never provided any of the information or documents FINRA requested.
For the full details of FINRA’s investigation, see FINRA Case #2011026874301)
In addition to the regulatory action discussed above, Mr. Tatro’s FINRA Broker Report indicates that he has also been the subject of over 60 customer complaints throughout the course of his career in the securities industry. These complaints involved the sale of leveraged and inverse ETFs, variable annuities, equipment leasing investments, and mutual funds. His Broker Report also indicates that he was employed by First Allied Securities from November 2003 through September 2010.
The foregoing information, which is publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For a free consultation with a securities attorney, please call The White Law Group at 312/238-9650. For more information on the firm, visit https://www.whitesecuritieslaw.com.