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Broker Tye Williams Has Been Permanently Barred by FINRA

Tye WilliamsPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 11, 2016 indicate that former Texas-based Next Financial Group broker Tye Williams has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Williams (CRD# 1271046).

Tye Williams has spent thirty years in the securities industry and was most recently registered with Next Financial Group in Frisco, Texas (2008-2016). Previous registrations include First Heartland Capital in Houston, Texas; Mutual Service Corporation in Houston, Texas; Washington Square Securities in Des Moines, Iowa; and Advantage Capital Corporation in Atlanta, Georgia. He is currently not registered with any state or firm.

According to his BrokerCheck report, Tye Williams has received one FINRA sanction and one pending customer complaint.

In September 2016 FINRA sanctioned Tye Williams following allegations he “failed to produce documents and information after being repeatedly requested to do by FINRA.” The documents in question were connected to an investigation “regarding a customer complaint alleging that Williams converted over $1,000,000 from customers’ accounts, made unsuitable investment recommendations, and engaged in unauthorized transactions and mismanaged assets.” Mr. Williams was issued a permanent bar from the securities industry.

In August 2015 a customer alleged Tye Williams, while employed at Next Financial Group, “mismanaged their finances by exceeding the scope of his authority and recommended unsuitable investments in ventures like ‘Smashburger.’” The customer is seeking $1,000,000 in damages in the pending complaint.

If you have complaints regarding or have lost money investing with Tye Williams, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Fitapelli Kurta takes every case on a contingency basis, which means Fitapelli Kurta only gets paid if and when you collect money. By law there may be a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.