WILLIAM CALEB BENNETT TERMINATED FROM PARK AVENUE SECURITIES LLC

The Financial Regulatory Authority (“FINRA”) has reported on its BrokerCheck website that WILLIAM CALEB BENNETT was terminated from employment at PARK AVENUE SECURITIES LLC.
The FINRA Form U5 says:

“ DISCHARGE RR [finanical advisor] violated the Firm’s policies by facilitating outside investments not approved by the Firm,” and was reported publicly by FINRA on February 9, 2024.

Broker Dealers are required to report terminations and the reasons for a termination. Sometimes, these reported terminations suggest wrongdoing by the financial advisor; sometimes the reported terminations or discharge do not give any reason for the termination and do not suggest any wrongdoing.

If the termination mentions “OBA” or “Outside Business Activity” or “private securities” then it is likely the advisor engaged in some business outside of the firm, without approval, such as selling private investments, recommending real estate or business deals, or selling other investment opportunities outside the firm. This conduct can also be described as selling an investment “away” from the firm without prior written approval, which is a very serious offense. Not all OBAs or terminations mean there was customer harm.

But, if you bought something from your financial advisor and it does not show up on your monthly brokerage firm statement, or you lost significant money based on financial advice from your financial advisor, you should have that immediately reviewed by a qualified securities lawyer such as Sonn Law Group PA at 833-912-3000 or at [email protected]. We help investors, nationwide.

If you believe that you lost money due to any negligence or other misconduct of WILLIAM CALEB BENNETT, contact Sonn Law Group for a free consultation at 305-912-3000 or at [email protected].

Sonn Law Group PA has represented individuals, trusts, estates, companies and institutions nationwide in class actions, FINRA arbitrations and court. Our attorneys have obtained multimillion-dollar recoveries for victims of investment fraud, Ponzi Schemes, negligence, unsuitable investments, and other claims against some of the largest companies on Wall Street and around the country. Our firm has sued Morgan Stanley, UBS, Wells Fargo, LPL, Raymond James, JP Morgan Chase, Goldman Sachs, Lincoln Financial, Advisor Group, MML investor Services, Royal Alliance Associates, Equitable Advisors, Securities America, Commonwealth Financial Network, Park Avenue Securities, Northwestern Mutual, and many others.
Jeff Sonn served as a legal commentator for CNBC’s “On the Money” TV show as an expert on Ponzi Schemes during the Madoff case, is the author of “Ponzi Schemes, Picking up the Pieces of a Fallen House of Cards” and appeared on the CNBC Show “American Greed,” explaining a billion dollar Ponzi scheme.
Sonn Law Group PA represents investors nationwide, in all 50 states.

Important Disclaimer

The information contained herein has been obtained from what are believed to be reliable sources; however, some information may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of information, including any subsequent developments, should be directed to:

[email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement.