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Commonwealth Financial Network’s William Gibbs III Resigns Over Alleged Reporting Failures

William Gibbs IIIPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on July 16, 2018 indicate that Tennessee-based Securities Service Network broker William Gibbs III recently resigned from his former employer in connection to alleged rule violations and has received a customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Gibbs (CRD# 1544505).

William Gibbs has spent 30 years in the securities industry and has been registered with Securities Service Network in Knoxville, Tennessee since June 2018. Previous registrations include Commonwealth Financial Network in St. Simons Island, Georgia (2004-2018); Wachovia Securities in St. Louis, Missouri (2003-2004); Prudential Securities in New York, New York (2000-2003); Painewebber in Weehawken, New Jersey (1997-2000); Merrill Lynch in New York, New York (1991-1997); the Robinson-Humphrey Company in Atlanta, Georgia (1990-1991); Lehman Brothers in New York, New York (1989-1990); and EF Hutton & Company (1986-1988). He has passed six securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on December 6, 1994; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on September 19, 1986; Series 3 (National Commodity Futures Examination), which he obtained on January 5, 1987; Series 7 (General Securities Representative Examination), which he obtained on August 16, 1986; Series 10 (General Securities Sales Supervisor – General Module Examination), which he obtained on November 14, 2000; and Series 9 (General Securities Sales Supervisor – Options Module Examination), which he obtained on November 13, 2000. He is a registered broker with one US state: Georgia.

According to his BrokerCheck report, he has received one customer complaint and two unsatisfied tax liens, and he resigned from two former employers in connection to alleged rule violations.

In June 2018 William Gibbs, was “permitted to resign” from his position at Commonwealth Financial Network following allegations he failed to “timely report U4 reportable events.”

In September 2017 the Internal Revenue Service filed a tax lien totaling $79,390 against him. The lien remains outstanding.

In 2007 the Internal Revenue Service filed a tax lien totaling $105,332.10 against him. The lien remains outstanding.

In 1997 a party of customers alleged William Gibbs, while employed at Merrill Lynch, did not properly advise them regarding the terms of an insurance policy. The complaint settled for more than $11,800.

In 1997 he voluntarily resigned from his position at Merrill Lynch during “an internal review of discretion in client accounts.”

If you or someone you know has lost money investing with William Gibbs, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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