Israels & Neuman, PLC Investigates Orders Entered by the Securities Commissioner of South Carolina and The Alabama Securities Commission Related to William Benton Guido and Regulatory Actions Taken While He Was Registered With FSC Securities Corporation.
Have you lost money with William Benton Guido, FSC Securities Corporation, and LPL Financial, LLC?
On January 16, 2015, the Securities Commissioner of South Carolina entered an Order summarily suspending William Benton Guido (CRD #4504723) as a broker-dealer agent and investment advisor representative for alleged violations of the South Carolina Securities Act. This suspension follows further action taken by Alabama Securities Commission related to alleged actions of William Benton Guido taken while he was registered with FSC Securities Corporation.
According to William Benton Guido’s FINRA broker check report:
THE COMMISSION FOUND THAT ON DECEMBER 4, 2013 FSC SECURITIES CORPORATION FILED FOR REGISTRATION, ON BEHALFOF THEIR EMPLOYEE WILLAM GUIDO. DURING REVIEW OF THE SUBMITTED APPLICATION IT WAS DISCOVERED THAT TWO DOCUMENTS SUBMITTED HAD BEEN ALTERED. ORIGINAL DOCUMENTS WERE OBTAINED BY THE COMMISSION FOR COMPARISON AND THE ALTERATIONS WERE FOUND. GUIDO LEFT EMPLOYMENT WITH FSC AND BEGAN WORKING WITH ANOTHER COMPANY. GUIDO WAS GIVEN AN ORDER OF BAR BY THE COMMISSION.
William Benton Guido is no longer registered as a financial advisor with FINRA. According to his broker check report, he has previous complaints associated with the sales of a program called “Advisory Solutions,” and is currently involved in chapter 13 bankruptcy proceeding. William Benton Guido’s broker check report also discloses a complaint that he allegedly:
SIGN[ED] MY GRANDFATHERS NAME TO DOCUMENTS TO TRANSFER MONEY TO HIS AND MY BANK ACCOUNTS. HAD HIS STATEMENTS DELIVERED TO MY HOUSE, PROVIDED INACCURATE RESPONSES TO HOME OFFICE INUIRIES, ENTERED FALSE INFORMATION INTO THE FIRMS COMPUTER SYSTEM, PROVIDED MISLEADING INFORMATION DURING THE FIRMS INVESTIGATION.
William Benton Guido’s broker check report states that he was employed by LPL FINANCIAL, LLC (CRD# 6413) as a registered representative from March 2014 to December 2014 and FSC SECURITIES CORPORATION (CRD# 7461) from December 2013 to March 2014.
Brokerage firms like FSC Securities Corporation and LPL Financial, LLC have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in South Carolina and Alabama. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Wells Fargo Advisors, LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.
If you lost money with William Benton Guido, FSC Securities Corporation, or LPL Financial, LLC., please Contact Us at 720-599-3505 for a free evaluation of your case.
Click to view: Guido Suspension
Click to view: Guido Administrative Order