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Roy Williams Sr. Facing Allegations that He Failed to Perform Due Diligence

Roy Williams Sr. (CRD #: 1069297), a registered broker with Center Street Securities, Inc., and an investment advisor registered with Center Street Advisors, Inc., is facing a client allegation that he made unsuitable investment recommendations and did not perform his due diligence, according to his BrokerCheck record, accessed on August 24, 2020. Mr. Williams also has a regulatory action on his record.

On May 26, 2020, a client alleged that Roy Williams Sr. made unsuitable investment recommendations and did not perform his due diligence. “Due diligence” refers to the Financial Industry Regulatory Authority (FINRA) requirement that investors research securities before recommending them to their clients. The client is seeking $100,000 in damages; the dispute is pending.

On November 17, 2017, the SEC began an investigation into Real Estate Investment Trusts (REITs) that Mr. Williams recommended. The client sought $100,000 in damages; the dispute settled for $25,000.

On March 18, 2016, Roy Williams Sr. entered into an Acceptance, Waiver, and Consent agreement with the Financial Industry Regulatory Authority (FINRA), in which he consented to the entry of the findings that he caused his firm to fail to maintain accurate books and records when he utilized an outside email address to send securities-related emails. The findings also stated that Roy Williams sent an email related to a customer’s investment from an outside email address to his firm’s supervisor in which he wrote, “I am writing on this email so as not to be FINRA reviewed.” He consented to a 15-day suspension and a $5,000 fee. You can see a copy of his AWC here.

On May 24, 2011, a client alleged that Roy Williams Sr. made an unsuitable investment recommendation as well as illiquid investments. The client sought damages of $78,000; the dispute settled for $47,500.

Roy Williams has passed the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 7 General Securities Representative Examination, and the Series 6 Investment Company / Variable Contracts Representative Examination. He is a registered broker in Connecticut, Nevada, New York, and Rhode Island. He is also a registered investment advisor in Connecticut.

In his 36-year career, he has worked in the following firms:

  • EDI Investment Advisor Corporation (CRD #: 124129)
  • EDI Financial, Incorporated (CRD #: 15699)
  • Harvest Capital Advisors LLC (CRD #: 125920)
  • Harvest Capital LLC (CRD #: 35723)
  • USAllianz Securities Incorporated (CRD #: 40875)
  • Washington Square Securities, Incorporated (CRD #: 4386)
  • 1717 Capital Management Company (CRD #: 4082)
  • Metropolitan Life Insurance Company (CRD #: 4095)
  • Metlife Securities Incorporated (CRD #: 14251)

If Roy Williams Sr. was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com for your free case consultation with a securities attorney.

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