Truist Investment Services Review: Complaints & Lawsuits
The White Law Group is investigating complaints involving Truist Investment Services, Inc. after FINRA fined the firm $275,000 in September 2026. FINRA found the firm allegedly failed to catch a representative who moved losing trades into customers’ accounts. Here’s what’s on the firm’s record and what your options may be.
Truist Investment Services (CRD#: 17499 / SEC#: 8-35200) is the broker-dealer arm of Truist Financial Corporation. It was formerly known as BB&T Investment Services, Inc. If you lost money with a Truist Investment Services broker, our FINRA arbitration attorneys offer a free consultation.
Truist Investment Services Complaints and Recent FINRA Fines
September 22, 2026: $275,000 Fine Over Unauthorized Cancel and Rebill Trades
FINRA censured and fined Truist Investment Services $275,000. From at least March 2023 to July 2023, a firm representative allegedly canceled trades he had placed in his own Truist account. He then allegedly rebilled those trades to certain customers’ accounts. The customers did not know about or authorize the trades, and they allegedly suffered significant losses.
FINRA found the firm failed to reasonably identify and investigate red flags of this activity. From at least March 2023 to August 2023, the firm also allegedly lacked a supervisory system and written procedures reasonably designed to catch improper trade corrections. FINRA cited violations of Rules 3110(a), 3110(b), and 2010.
August 14, 2024: SEC and CFTC Off-Channel Communications Settlement
The SEC and CFTC sanctioned Truist entities for failing to preserve business communications sent through unapproved messaging apps, such as WhatsApp and personal texts. The firms agreed to pay penalties and adopt stronger compliance measures.
Past Regulatory Actions Involving Truist Securities
June 1, 2022: Trading Volume Manipulation
FINRA sanctioned Truist Securities, Inc., an affiliated broker-dealer, for allegedly inflating trading volume to boost its rankings on a third-party platform. The firm consented without admitting or denying the findings.
December 21, 2021: Supervisory Failures
FINRA cited Truist Securities for allegedly inadequate written supervisory procedures, including gaps in reviewing electronic communications. The firm consented without admitting or denying the findings.
Truist Investment Services Broker Misconduct and Lawsuits
T. Sloan Thompson (CRD#: 2588490)
Thompson’s record shows 43 disclosures, including pending and settled customer disputes alleging unsuitable, high-risk trading in managed accounts. Truist discharged Thompson in 2024 for allegedly failing to report complaints on time.
Santiago J. Torres Jr. (CRD#: 5644622)
FINRA barred Torres in July 2025 after he allegedly refused to cooperate with a probe into misappropriated client funds and falsified documents. Truist discharged him in 2024 over similar allegations. Several customer disputes against him have settled for more than $250,000.
Christina D. Peterman (CRD#: 4064817)
FINRA barred Peterman in January 2024 after she allegedly refused to cooperate with an investigation into unauthorized account access and client transactions. She worked at Truist Investment Services from 2021 to 2023.
Recovering Losses From Truist Investment Services
If a Truist Investment Services broker made unauthorized trades in your account or recommended unsuitable investments, you may be able to recover your losses. Brokerage firms must supervise their brokers. A firm that misses red flags may be liable for the harm that follows.
Contact The White Law Group
The White Law Group is a national securities fraud law firm with offices in Chicago and Seattle. Our FINRA arbitration attorneys represent investors nationwide in claims against broker-dealers.
If you have concerns about your investments with Truist Investment Services, call (888) 637-5510 for a free consultation, or contact us online.
Frequently Asked Questions
How do I file a claim to recover money I lost with Truist Investment Services?
Most investors recover losses by filing a FINRA arbitration claim instead of a court lawsuit. Most brokerage account agreements typically include a pre-dispute arbitration clause, which many investors don’t realize they signed, so disputes generally go to FINRA arbitration. Arbitration can still result in a monetary award or settlement.
What is “cancel and rebill” trading, and why does it matter for my account?
Cancel and rebill is a trade correction where a broker cancels a trade in one account and books it to another, usually to fix an error. It becomes misconduct when a broker uses it to move losing trades out of his own account and into a customer’s account without permission. That is unauthorized trading, and customers who absorbed those losses may be able to recover them.
Can Truist Investment Services be held responsible if it didn’t know what its broker was doing?
Yes, it can. FINRA Rule 3110 requires firms to supervise their brokers and follow up on red flags. A firm that misses warning signs may be liable for failing to supervise, even if it never approved the misconduct.
