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Ex-Pinnacle Rep Bill Friedman Suspended by FINRA
Former Boca Raton broker and investment adviser Bill Friedman (CRD# 2475502) was recently recently the subject of a regulatory action suspending him from acting as a broker. Financial Industry Regulatory Authority (FINRA) records show that Friedman, who has also received investor complaints, was most recently registered with Pinnacle Investments.
Bill Friedman’s BrokerCheck report currently lists two settled investor complaints and one pending complaint. It also describes a July 2021 FINRA order suspending him in connection to allegations he failed to respond to a FINRA request for information. He was issued an indefinite suspension from associating with any FINRA member firm in all capacities. The filing notes that if he does not request termination of the suspension within three months, on October 5th, 2021, he will be automatically barred from associating with any FINRA member firm in any capacity.
An investor complaint filed in 2021 alleged that as a representative of Pinnacle Investments, Bill Friedman committed elder abuse, engaged in unjust enrichment, recommended unsuitable investments, executed unauthorized trades, misrepresented material facts, omitted material facts, breached his fiduciary duty, breached contract, committed securities fraud and common law fraud, acted negligently, violated federal securities laws, violated state securities laws, and violated industry rules and regulations. The complaint reached a settlement of $24,900.
A pending investor complaint filed in March 2021 alleged that as a representative of Newbridge Securities, Woodstock Financial Group, and Pinnacle Investments, Bill Friedman made unsuitable investment recommendations, misrepresented material facts, acted negligently, breached his fiduciary duty, executed unauthorized trades, and failed in his supervisory duties. The pending complaint alleges damages of $700,000.
An investor complaint filed in 2015 alleged that as a representative of Newbridge Securities Corporation, he exercised discretion, breached his fiduciary duty, recommended unsuitable investments, and “pursued an inappropriate equity trading strategy which resulted in losses.” The complaint reached a settlement of $10,000.
According to Financial Industry Regulatory Authority records, Bill Friedman is not currently registered as a broker or investment adviser. His prior registrations include Pinnacle Investments in Boca Raton, Florida; Woodstock Financial Group in Boca Raton, Florida; Newbridge Securities in Boca Raton, Florida; Brookstreet Securities Corporation in Boca Raton, Florida; Raymond James Financial Services in Boynton Beach, Florida; Charles Schwab & Company in San Francisco, California; Muriel Siebert & Company in Jersey City, New Jersey; Waterhouse Securities in Omaha, Nebraska; LC Wegard & Company in New York, New York; Chatfield Dean & Company in Greenwood Village, Colorado; and J. Gregory & Company. He has passed five securities industry qualifying examinations: the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; the General Securities Sales Supervisor – General Module Examination, or Series 10; the Securities Industry Essentials Examination, or SIE; and the General Securities Sales Supervisor – Options Module Examination, or Series 9. He holds zero state securities licenses. (Information current as of August 18, 2021.)