William Mark Heiden Allegedly Engaged in Unauthorized Trading in the Accounts of Two Elderly Customers

William Heiden allegedly engaged in unauthorized trading in the accounts of two elderly customers, without first obtaining these elderly customers’ authorizations, as required, according to a Pending Regulatory Action disclosed on Heiden’s FINRA BrokerCheck Report under review by investor rights attorney Alan Rosca.

Heiden reportedly cancelled the three unauthorized trades he made in the customer’s account after repeated requests by one of the customers’ daughter, the complaint alleges.

Heiden also allegedly made unauthorized trades in the other elderly customer’s accounts which purportedly resulted in losses (including commissions and fees) in excess of $10,000, the complaint notes.

Heiden also allegedly exercised discretion in the accounts of two other elderly customers before first receiving written authorization from the customers and without acceptance of the accounts as discretionary by his member firm via obtaining written approval, FINRA notes.

Securities attorney Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to William Heiden’s alleged unauthorized trading. Investors who believe they may have lost money in activity related to William Heiden’s alleged unauthorized trading are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

William Heiden Allegedly Engaged in Wrongful Conduct, Breach of Fiduciary Duty, Constructive Fraud, & Fraud by Misrepresentation and Omission

William Heiden allegedly engaged in wrongful conduct, breach of fiduciary duty, constructive fraud, fraud by misrepresentation and omission, breach of written contract and violation of state and federal securities laws, FINRA Rules of Fair Practice and NYSE Rules, according to to a Pending  Customer Dispute disclosed on Heiden’s FINRA BrokerCheck Report under review by Alan Rosca.

Said dispute was filed on October 10, 2018 and is requesting damages of $4,200,000.00, FINRA notes.

Heiden was registered with Wedbush Securities Inc in Newport Beach, California from August 1, 2013 until June 26, 2018, FINRA reports.

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.

Securities Lawyer Investigating

The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related misconduct and are currently investigating William Heiden’s alleged unauthorized trading. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of William Heiden’s alleged unauthorized trading may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at rosca@lawgsp.com, or through the contact form on this webpage.

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