Finra, looking into trading activity, bars no-show broker
William Brunner had resigned from Investment Planners Inc. last May.
The Financial Industry Regulatory Authority Inc. has barred William Brunner, a former broker who had been affiliated with Investment Planners Inc., after he failed to take part in a hearing looking into his trading activity.
Mr. Brunner resigned from IPI on May 12, 2017, according to the Finra BrokerCheck site, and is not currently working in the securities industry. On May 10, 2017, one of his clients alleged issues regarding suitability and fees, and that the client had not signed an active trading letter giving Mr. Brunner discretion.
Mr. Brunner, of Huntington, N.Y., began his securities career at Sterling Foster in 1995 and worked at six other firms before affiliating with IPI in 2015.
In 1998, Mr. Brunner consented to findings by the National Association of Securities Dealers, the forerunner of Finra, that he made material misrepresentations and omitted to disclose material facts in connection with his recommendations of securities to customers, among other charges. He was censured, fined $20,000, ordered to pay almost $25,000 in restitution and suspended from the securities industry for 30 days.
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