Larry Burton: $379K Bond Complaint Against Westlake Village Advisor

Western International Securities financial advisor Larry Burton (CRD# 4297802) recently received an investor complaint alleging his investment advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor in Westlake Village, California. 

Mr. Burton’s BrokerCheck report discloses one investor complaint against him. Filed in June 2022, it alleges that as a representative of Western International Securities, he recommended unsuitable corporate bond investments. The pending complaint alleges damages of $379,250.

The US Securities and Exchange Commission recently filed charges against Western International Securities and five of the firm’s broker, alleging they engaged in violations of the SEC’s Regulation Best Interest when recommending and selling “L bonds” issued by GWG Holdings. Regulation Best Interest, for reference, stipulates that broker-dealers must act in the best interest of their customers As a press release by the SEC states, the complaint alleges the firm sold “an aggregate of $13.3 million” in these products between July 2020 and April 2021, and that the products “were high risk, illiquid, and only suitable for customers with substantial financial resources.” More information on the allegations are available in the complaint. 

According to the Financial Industry Regulatory Authority, Larry Burton holds 21 years of securities industry experience. Based in Westlake Village, California, he has been a broker and an investment advisor with Western International Securities since 2009 and 2010, respectively. His past registrations include Citigroup Global Markets (Tujunga, California; 2007-2009), Citicorp Investment Services (Los Angeles, California; 2003-2007), and Merrill Lynch (Pasadena, California; 2001-2003). His credentials include the passage of three securities industry qualifying exams: Uniform Combined State Law Examination. He is licensed in California, Nevada, Oregon, and Virginia. (Information current as of September 7, 2022.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.