FINRA announced that it barred an ex-Hilliard Lyons broker, Henry Al Dean Watson, who recently settled a customer complaint accusing him of excessive trading and commissions, unauthorized trades, and portfolio mismanagement. Watson broke FINRA rules by failing to appear to give testimony before the regulator.
Watson began in the securities business in 1984. He was registered with a number of firms before registering with Hilliard Lyons in January 2012. He worked there until October and is not currently licensed with any other firm.
As happens quite regularly, FINRA wanted Henry Al Dean Watson’s testimony in relation to an inquiry about an arbitration claim filed by a customer against him, the settlement stated. Watson failed to appear to provide testimony, thus violating industry rules. He consented to the sanction without admitting or denying the findings.
His FINRA BrokerCheck profile states that Watson made no contribution in a $166,500 arbitration award from 2015 in which a client alleged excessive trading and commissions, unauthorized trades and portfolio mismanagement. Another customer complaint from 2016 that alleged that he purchased shares of a security without authorization was denied.
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