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Written by 6:29 pm Blog, Current Investigations

William “Ed” Torriente, Comerica Securities, Barred after Allegations of Unauthorized Trades 

William “Ed” Torriente, Comerica Securities, Barred after Allegations of Unauthorized Trades, featured by top securities fraud attorneys, the White Law Group

FINRA Bars William “Ed” Torriente, Comerica Securities, after Allegations of Unauthorized Trading 

According to a Letter of Acceptance Waiver and Consent on July 6, the Financial Industry Regulatory Authority (FINRA) has reportedly barred William “Ed” Torriente (CRD#: 4255814) after he refused to appear for and provide on-the-record testimony requested by FINRA in connection with its investigation into the allegations contained in a Uniform Termination Notice for Securities Industry Registration (Form U5) filed by his member firm. 

The U5 reportedly indicated that Torriente voluntarily terminated his association with the firm while under internal review for allegedly placing transactions in client accounts that the clients were not aware of. The findings allegedly stated that the firm later filed a Form U5 Amendment for Torriente disclosing two different customer complaints alleging, among other things, that he had exercised unauthorized discretion. 

Torriente has purportedly 5 disclosure events on his broker record, including three customer complaints and an employment separation, according to FINRA. Two of the customer disputes are reportedly pending and seek damages of more than $500,000 for allegations of “unauthorized discretion,” according to FINRA. 

According to his broker record, Torriente was reportedly affiliated with the following FINRA registered firms, among others, during his career in the securities industry:  

10/30/2009 – 10/20/2020, COMERICA SECURITIES (CRD#:17079), PHOENIX, AZ,  

06/28/2006 – 11/05/2009, WELLS FARGO INVESTMENTS, LLC (CRD#:10582), MESA, AZ 

Potential Lawsuits to Recover Financial Losses     

The White Law Group is investigating potential securities claims involving William “Ed” Torriente and the liability his employers may have for failure to supervise him.  

When brokers and registered investment advisors violate securities laws, such as taking loans from customers or making unsuitable investment recommendations, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.          

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.  We represent investors in all 50 states including Arizona. Our attorneys have recovered millions of dollars from many brokerage firms in the past.                 

If you are concerned about your investments with William “Ed” Torriente, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.                  

For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.             

     

      

 

Tags: , , , , , , , Last modified: July 11, 2022