The US Securities and Exchange Commission is investigating Westlake Village, California stockbroker Thomas Swan (CRD# 1698430) over alleged violations of...Read More
Wills Henriquez: Brooklyn Broker Suspended by FINRA
A disciplinary action taken by the Financial Industry Regulatory Authority against former Brooklyn, New York broker Wills Henriquez (CRD# 1872198) suspended him over allegations he improperly exercised discretionary authority in customer accounts. A former representative of Network 1 Financial Securities, Henriquez was suspended for 45 days and ordered to pay a fine of $7,500.
According to a Letter of Acceptance, Waiver and Consent (No. 2017052703601) dated June 2018, Wills Henriquez was registered with Network 1 Financial Securities when, between May 2013 and November 2017, he executed discretionary trades in six accounts held by four firm customers. FINRA’s findings note that the clients in question had provided Henriquez with “express or implied authority” to effect discretionary trades, but had not given him advance authorization in writing, and further that he had not received written authorization from his firm to exercise discretion in the accounts. The findings go on to state that between March 2016 and March 2017 he mis-marked about 32 order tickets as unsolicited when the transactions in question were solicited, thus causing his firm to maintain inaccurate books and records. FINRA found these activities to constitute violations of NASD Rule 2510 and FINRA Rules 4511 and 2010. As a result of the foregoing alleged conduct, Wills Henriquez was suspended from associating with any FINRA member firm in any capacity for 45 days. He was also ordered to pay a fine of $7,500.
Wills Henriquez is currently not registered as a broker or investment advisor. His employment history includes Network 1 Financial Securities in Brooklyn, New York; Newport Coast Securities in Brooklyn, New York; Legend Securities in New York City; Emerald Investments in New York City; Success Trade Securities in Washington, DC; Lempert Brothers International in New York, New York; Andrew Garrett in New York City; Quick & Reilly in New York City; Fordham Financial Management in New York City; Carnegie Investor Services in New York City; Meyers Pollock Robbins in New York City; Biltmore Securities in Fort Lauderdale, Florida; Windsor Reynolds Securities in Honolulu, Hawaii; Rickel & Associates in New York City; GKN Securities Corporation in New York City; Westfield Financial Corporation in New York City; and Stratton Oakmont in Lake Success, New York. He currently holds zero state licenses and has passed three securities industry qualification examinations.