WILLIAM FRANCIS NORRIS is currently employed as a Broker and/or Investment Adviser at ENTRUSTPERMAL SECURITIES LLC located at 1700 Connecticut Avenue, NW, Suite 300, WASHINGTON, DC, 20009.
WILLIAM FRANCIS NORRIS has worked at ENTRUSTPERMAL SECURITIES LLC since May 09, 2016
Disclosure History
WILLIAM FRANCIS NORRIS has 1 Disclosure Event(s).
Date: December 05, 1988 Category: Customer Dispute Allegations: ALLEGATIONS IN EXCESS OF EXTENTION OF MARGINCREDIT WHICH RESULTED IN $100,000.00 EXCESS IN MARGIN EXPENSEOVER DIVIDEND INCOME FROM 1976-1986. CLAIMANT ALSO SOUGHT TORECOVER $70,000.00 IN STOCK MARKET LOSSES IN 1982. Damage Amount Requested: $1,000,000.00 Settlement Amount: $220,000.00 Broker Comment: THERE WERE NO PENALTIES OR RESTRICTIONS ASRESULT OF NASD HEARING. TOTAL SETTLEMENT WAS $220,000.00 KPPAID $180,000.00. MR. NORRIS PAID $40,000.00 TOWARDS THESETTLEMENT.I RECOMMENDED THE USE OF MARGIN TO A CLIENT WHOOWNED THREE APARTMENT BUILDING WHICH WERE NOT PROVIDING ANYMEANINGFUL SHELTER, THE CLIENT HAD UTILIZED MARGIN AT APREVIOUS FIRM. THE INTEREST EXPENSE OF THE MARGIN ACCOUNTBECAME A SOURCE OF TAX DEDUCTION WHICH DID HELP THE CLIENTSOVERALL INVESTMENT STRATEGY. WHEN THE 1981-1982 BEAR MKTDEVELOPED, THE CLIENTS EQUITY WAS SHARPLY REDUCED.
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