Suspended by FINRA for selling promissory notes without the permission
If you’ve lost money investing with William Gennity or Standard Financial, you may have a claim. Contact Sonn Law today by filling out our form to submit a confidential message, or call us anytime at 866–827–3202 to schedule a free consultation.
Former First Standard Financial broker William (Billy) Christian Gennity, (CRD#: 4913490) has been barred from FINRA for failure to provide FINRA with requested information and violation of federal securities laws.
In September 2017, the U.S. Southern District Court of New York levied civil and administrative fines and penalties against Gennity and another broker-dealer, both whom were registered with Alexander Capital of New York.
Court records allege that Gennity and another Alexander Capital broker violated antifraud provisions of federal securities laws in the sale of unspecified securities.
The commissioner’s complaint also alleged that Gennity’s recommendations resulted in losses for the customers and ill-gotten gains for Gennity. Customer disputes in Gennity’s BrokerCheck report contain allegations that he made unsuitable recommendations, concealed material information and made material misrepresentations to his customers.
Gennity was liable for disgorgement of $127,686 together with pre judgment interest in the amount of $14, 797 and a civil penalty in the amount of $160,000.
According to his BrokerCheck profile, from 2012 to 2014, Gennity recommended to four customers a pattern of hgh-cost in-and out-trading without any reasonable basis to believe his recommendations were suitable.
Gennity has 12 years of industry experience with 10 firms, most recently with First Standard Financial, Alexander Capital, and Legend Securities, all of New York. he has 12 disclosures in his FINRA record, including eight customer disputes, three regulatory actions and one civil action.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive misappropriated funds, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.