Robert Wayne Thompson Lawsuit | O.N. Equity Sales Broker Barred
The White Law Group is investigating complaints involving Robert Wayne “Bob” Thompson, a former Houston broker with The O.N. Equity Sales Company. A customer has filed a lawsuit accusing him of taking more than $2.3 million. Here’s what’s on his record and what your options may be. Thompson (CRD# 713539) was permanently barred by FINRA on October 1, 2026. If you invested with him, you may be able to recover losses through FINRA arbitration.
Robert Wayne Thompson Lawsuit: What the Customer Alleges
In October 2025, a customer reportedly filed a lawsuit against Thompson. The suit alleges that between September 2023 and August 2025, he took money the customer had received as damages from a commercial vehicle incident and used it himself. The customer is seeking $2,325,953. The lawsuit is still pending, and the claims have not been proven.
FINRA Bars Bob Thompson
FINRA reportedly barred Thompson from the securities industry in all capacities on October 1, 2026. According to the settlement, he allegedly refused to give FINRA information and documents it requested. FINRA was looking into whether he misappropriated customer funds and took part in undisclosed outside business activities. Thompson accepted the bar without admitting or denying the findings. A bar is permanent.
O.N. Equity Sales Fired Thompson in October 2025
The O.N. Equity Sales Company fired Thompson on October 28, 2025, after it learned of the customer’s lawsuit. The firm reported that the suit alleged he misappropriated a customer’s funds. It also alleged he acted as the customer’s power of attorney without the firm’s consent. The firm further reported that he allegedly set up several shell companies as outside businesses without telling the firm or getting its approval.
Robert Wayne Thompson’s Broker History
Thompson worked in the securities industry for about 42 years, mostly out of Houston, Texas. He was registered with The O.N. Equity Sales Company from 2015 to 2025. Before that, he was registered with United Planners’ Financial Services of America (2013 to 2014), J.W. Cole Financial (2011 to 2013), and Walnut Street Securities (1990 to 2011). He was also registered as an investment adviser.
His BrokerCheck record shows four disclosures. One is a 2003 customer complaint alleging that the signature on a life insurance premium allocation form wasn’t his and that the policy’s costs weren’t explained well enough. That complaint settled for $3,059.
Investors Who Worked With Bob Thompson
The White Law Group is investigating potential claims on behalf of investors who may have been affected by Thompson’s alleged conduct. If he acted as your power of attorney, asked you to put money into an outside business, or handled settlement or award money for you, you may want to have your account records reviewed.
Frequently Asked Questions
How do I file a claim to recover money I invested through Robert Wayne Thompson?
Most brokerage account agreements typically include a pre-dispute arbitration clause, and many retail investors don’t know it’s there. Because of this, claims against brokers and their firms are usually filed through FINRA arbitration rather than in court. Arbitration can still result in a monetary recovery, and a securities attorney can help you decide whether you have a claim.
What are undisclosed outside business activities, and why do they matter for my money?
An outside business activity is any business a broker runs outside the firm he works for, and FINRA rules require brokers to tell their firm about it. When a broker hides an outside business, the firm can’t review it or watch for problems. That can leave customer money unprotected. You can read more about the rules in our guide to FINRA Rule 3290.
Can the brokerage firm be responsible for my losses even if it didn’t know about the transactions?
Possibly. Brokerage firms must supervise their brokers under FINRA Rule 3110. A firm may be liable for failing to supervise if it missed red flags it reasonably should have caught, even if it never approved the activity.
Contact a Securities Attorney
The White Law Group is a national securities fraud law firm with offices in Chicago and Seattle. If you suffered losses with Robert Wayne Thompson or The O.N. Equity Sales Company, call (888) 637-5510 or contact us for a free consultation. Learn more about how a FINRA arbitration attorney can help you pursue recovery.
