FINRA suspended Metlife Securities, Inc. associate Bill Alvin Ahlswede of Menifee, California for failing to disclose a complaint when he filed his industry-mandated Form U4. Similarly, FINRA charged Ahlswede with failing to amend his Form U4 after agreeing to an offer of settlement.
FINRA Case #2011027351901
On November 29, 2010, the National Futures Association ("NFA") filed a complaint against Ahlswede for allegedly violating NFA rules including cheating and defrauding customers by churning accounts and trading without authorization.
Similar to FINRA's role in the financial and securities industry, NFA is the independent regulatory body of futures markets. Just like FINRA, NFA maintains its own registration database, set of rules and procedures and complaint system, including a procedure for arbitration or mediation.
When Ahlswede, charged with several NFA rules violations, filed his initial Form U4 on March 3, 2011, he specifically failed to disclose the NFA complaint, in violation of FINRA rules. When the NFA issued a decision regarding that complaint on March 23, 2011, Ahlswede again failed to inform FINRA of this Offer of Settlement.
Both FINRA, NFA, SEC and other like regulatory bodies and agencies are effective at maintaining large broker or adviser databases, in part, because of the timely and accurate reporting of their members. When an associated person fails to disclose pertinent information—such as allegations of fraud through a separate, but related regulatory agency or body—such a failure causes inaccuracies and omissions that can put the investing public at risk.
If you have invested with Bill Alvin Ahlswede or with any broker or associated person whose failure to fully disclose disciplinary or other relevant actions has resulted in a significant oversight that has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.