FINRA suspends Walter Warren Parker (CRD #2131232, Wylie, Texas)
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As reported in InvestmentNews, three Raymond James entities have agreed to pay over $15 million to resolve an investigation by the SEC. The settlement and SEC order focused on Raymond James’s actions in improperly charging certain clients advisory fees when the...read more
April 18, 2018 – An AWC was issued in which Parker was fined $7,500 and suspended from association with any FINRA member in all capacities for one month. Without admitting or denying the findings, Parker consented to the sanctions and to the entry of findings that he made investment recommendations to a customer that were not suitable given her age, risk tolerance, financial experience and liquidity. The findings stated that the customer had little prior experience investing and no experience investing in alternative investments. Immediately upon opening her account, Parker recommended that the customer invest her funds into illiquid, alternative investments. The source of these funds was the customer’s retirement account. The customer suffered significant losses in the alternative investments. She claimed that, as a result of her investment losses, she was forced to obtain full-time employment. The customer later entered into a settlement with Parker’s member firm and Parker to compensate her for her losses in the accounts.
If you or someone you know has lost money investing with Walter Warren Parker, call the experienced FINRA arbitration attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge 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 877-445-9261 now to speak to an attorney for free.