WILLIAM OWEN WRIGHT is currently employed as a Broker and/or Investment Adviser at INFINITY FINANCIAL SERVICES located at 5706 Hauala Road, Kapaa, HI, 96746.
WILLIAM OWEN WRIGHT has worked at INFINITY FINANCIAL SERVICES since August 24, 2015
Disclosure History
WILLIAM OWEN WRIGHT has 4 Disclosure Event(s).
Date: July 02, 2014 Category: Regulatory Initiated By: KANSAS Allegations: RESPONDENT, AS CCO AND PRESIDENT OF FIRM, FAILED TO PROVIDE ACCURATE ACCOUNT STATEMENTS TO CLIENTS, ALLOWED AN EMPLOYEE TO ACT AS AN INVESTMENT ADVISER REPRESENTATIVE WITHOUT BEING REGISTERED, FAILED TO CONDUCT ANNUAL REVIEWS, FAILED TO PROPERLY DISCLOSE OWNERSHIP OF FIRM AND FAILED TO FILE UPDATING AMENDMENTS TO ADV AND FORM U-4 Resolution: Order SanctionDetails: Sanctions: Civil and Administrative Penalty(ies)/Fine(s) SanctionDetails: Amount: $5,000.00 Broker Comment: FOLLOWING SOME SIGNIFICANT FAMILY DIFFICULTIES RESPONDENT CHOSE TO MAINTAIN THE PRIMARY KANSAS OFFICE BUT TO PERSONALLY RELOCATE AND EXPAND THE FIRMS OFFICES TO HAWAII. THEREFORE, RESPONDENT HIRED A VICE PRESIDENT IN KANSAS WHO AGREED TO BECOME THE SAA AND CCO FOR THE FIRM. THIS INDIVIDUAL WAS IMMEDIATELY LISTED AS AN ASSOCIATED PERSON ON THE FORM ADV BUT NOT AS AN IAR.THE IAR OMISSION OCCURRED BECAUSE RESPONDENT'S FIRM HAS NO DISCRETION BUT ALSO HAD THE MISTAKEN BELIEF THAT SINCE THATINDIVIDUAL WAS JUST GOING TO ACT IN HIS CAPACITY AS REGISTERED REPRESENTATIVE IN HIS DEALINGS WITH CLIENTS AN IAR APPOINTMENT WOULDN'T BE REQUIRED. HOWEVER THAT PERSON ALSO DID NOT POST TO THE SYSTEM, IN HIS EXCLUSIVE ACCESS TO THE IARD IN HIS CAPACITY AS SAA, HIS STATUS AS CCO AND ALSO DID NOT FILE AN ANNUAL UPDATING AMENDMENT IN 2012 TO THE ADV WHICH THEN BECAME THE RESPONSIBILITY OF RESPONDENT. THE U-4 ADDRESS CHANGE UPDATE WAS FILED LATE BY THE RESPONDENTS BROKER DEALER WHO IN 2010 HAD CONTROL OVER THE U-4 FILING SYSTEM EVEN THOUGH IT IS NONE-THE-LESS THE DUTY OF THE RESPONDENT. THE ANNUAL REVIEWS CONDUCTED BY RESPONDENT AND THE FIRM WERE NOT DEEMED ADEQUATE BY THE KSC AS A NUMBER OF STATEMENT ERRORS ON SOME OF THE CLIENT'S QUARTERLY CONSOLIDATED STATEMENTS WERE NOT DETECTED OR ADEQUATELY CORRECTED FOLLOWING A SYSTEMIC DATA DISCONNECTION THATOCCURRED WITH TWO OF THE PRIMARY DATA VENDORS THEY RELIED UPON. DURING THIS TIME PERIOD THE UP TO 67 CLIENTS WERE NOTIFIED ON THEIR STATEMENTS TO BE AWARE OF STATEMENT INACCURACIES AND TO ALSO NOTIFY THE FIRM IF THEY DETECTED THEM. NO CLIENTS COMPLAINED AND NO SUGGESTION WAS MADE THAT ANY CLIENT'S FUNDS WERE MISHANDLED OR LOST AS RESULT OF THE STATEMENT ERRORS.
Date: December 03, 1996 Category: Employment Separation After Allegations Firm Name: FIRST ALLIED SECURITIES, INC. Termination Type: Permitted to Resign Allegations: NOT PROVIDEDTHAT I REFUSED TO RESIGN DIRECTORSHIPS OF TWOPUBLIC COMPANIES THAT MY BROKER DEALER HAD APPROVED OF UP TO 9 MONTHS EARLIER AND THAT THE TWO(2)LETTERS THAT I HAD SENT TO THEM FOR THEIR OWN DUE DILIGENCE CONSITUTED UNAPPROVED ADVERTISING. Broker Comment: MY BROKER DEALER, FIRST ALLIED SECS, HAD AGREED TO RESOLVE THEIR CONCERN WITH MY PREVIOUSLY APPROVED DIRECTORSHIP OF 2 PUBLIC COMPANIES BY ACCEPTING MY VOLUNTARY RESIGNATION FROM THEIR FIRM. AFTER SUBMITTING MY RESIGNATION, THEY MALICIOUSLY AND WITHOUT JUSTIFICATION CLAIMED (2) UNCIRCULATED LETTERS I HAD SENT TO THEM FOR DUE DILIGENCE ON THE TWO COMPANIES I WAS DIRECTOR FOR CONSTITUTED UNAPPROVED ADVERTISING, AND ALLOWED THEM RATIONALE TO GENERATE A "PERMITTED TO RESIGN" STATUS ON MY U-4.
Date: May 14, 1996 Category: Regulatory
Date: February 21, 1985 Category: Regulatory
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