William Sandeman: FINRA Bars Ex-Wedbush Advisor

Former Seattle, Washington financial advisor William Sandeman (CRD# 831384) was recently sanctioned and barred in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he was last registered as a broker with Wedbush Securities and that he has received multiple investor complaints.

A Letter of Acceptance, Waiver, and Consent (No. 2022073920901) describes FINRA’s disciplinary action against Mr. Sandemann. Filed in October 2026, it alleges that he “recommended that 81 retail customers purchase and hold volatility-linked and non-traditional exchange-traded products (ETPs) as long-term investments,” though he did not have a reasonable basis to believe that they were in his customers’ best interest. As a result of his recommendations, the Letter states, his customers “suffered more than $3.5 million in realized losses” on their investments. Finding that his conduct violated the SEC’s Regulation Best Interest as well as FINRA Rule 2010, FINRA barred him from associating with any member firm in all capacities.

Mr. Sandeman’s BrokerCheck report discloses four investor complaints. The most recent, filed in October 2024, alleged that as a representative of Wedbush Securities, he recommended ETF and ETN investments that resulted in losses. The complaint reached a settlement of $30,000.

An earlier investor complaint, filed in 2014, alleged that as a Wedbush representative, he made risky investment recommendations that resulted in an over-concentration in the account. The complaint reached a settlement of $50,000.

According to the Financial Industry Regulatory Authority, William Sandeman holds 48 years of securities industry experience. Most recently based in Seattle, Washington, he was registered as a broker with Wedbush Securities from 2000 until 2025. His past registrations include Painewebber, Oppenheimer, Drexel Burnham Lambert, and Foster & Marshall. His credentials include the passage of ten securities industry qualifying exams: the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the Securities Industry Essentials Examination, or SIE; the Operations Professional Examination, or Series 99TO; the Foreign Currency Options Examination, or Series 15; the General Securities Representative Examination, or Series 7; the National Commodity Futures Examination, or Series 3; the AMEX Put and Call Exam, or PC; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. (Information current as of October 7, 2026.)

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.