Will Duffy Allegedly Recommended Unsuitable Investments
Will Duffy (CRD# 6726333), formerly a broker registered with Innovation Partners, violated securities industry laws and rules, according to recent investor disputes. MDF Law is investigating the former Lone Tree, Colorado financial professional for similar conduct. Contact us for a free consultation if you have concerns about your investments.
More information about the allegations against Mr. Duffy can be found below. The information in this post is sourced from his BrokerCheck profile, a Financial Industry Regulatory Authority record accessed on September 6, 2024.
Pending Disputes Allege Negligence, Misrepresentation
Three parties of investors filed disputes involving Mr. Duffy in 2024. The disputes include allegations that he violated state and federal securities laws, recommended unsuitable investments, misrepresented material facts, and engaged in negligence. They also detail allegations that he breached contract, breached his fiduciary duty, employed unfair business practices, and violated the SEC’s Regulation Best Interest. The disputes, which remain pending, seek more than $400,000 in damages.
Past Disputes Reached Settlements
The above-described pending claims are not the only disputes in Mr. Duffy’s professional history. Between 2021 and 2022, two parties of investors filed disputes involving his conduct. These disputes included allegations of unsuitable investment recommendations, breach of fiduciary duty, negligence, breach of contract, and violation of industry laws and rules. His former member firm paid a total of $235,100 to settle the disputes.
FINRA: Duffy Last Based in Lone Tree, Colorado
Will Duffy launched his career as a broker when he joined Emerson Equity in 2016. While he initially registered with the firm’s Denver, Colorado office in 2016, he registered with its Lone Tree, Colorado in 2019. He remained there until 2022, when he joined Sharenett Securities’ office in Lone Tree. Later that year he joined Innovation Partners in Lone Tree, where he remained until January 2024. Since departing Innovation Partners, he has not been registered as a broker or an investment advisor. With six years of experience as a broker, he has completed five industry exams, including the Series 65 and the Series 22.
What Is Regulation Best Interest?
The Securities and Exchange Commission’s Regulation Best Interest requires brokers to act in their retail customers’ best interests. Passed in 2019, Reg BI is not quite as strict as the fiduciary duty owed by investment advisers to their customers. It does, however, set similar standards. Perhaps most important is its requirement that brokers disclose information regarding their investment recommendations, and that they “exercise reasonable diligence, care, and skill” regarding any potential risks and rewards associated with their recommendations. The regulation also requires broker-dealer firms to establish policies that help mitigate conflicts of interest and attain regulatory compliance.
Call MDF Law for a Free Consultation
MDF Law’s seasoned broker fraud attorneys have secured millions in investment losses for our clients. We accept cases on a contingency basis, meaning clients only pay if they win, and we offer free consultations across the US. If you lost money on investments recommended by Will Duffy, call 800-767-8040 to speak with an attorney today.