BERLIN, NEW HAMPSHIRE
Have you lost money with financial advisor Peter Bill of Berlin, New Hampshire? We are continuing to look into allegations made by the New Hampshire Securities Bureau against Peter Alvin Bill. New Hampshire alleged that Peter Bill used leveraged and inverse ETFs and often held them for beyond a single day, despite the fact that these ETFs are only to be used for one trading day. Bill often engaged in option trading as well. New Hampshire alleged that this was unsuitable.
In 2019, New Hampshire alleged that Peter Bill engaged in excessive trading, or churning, with an elderly client. The trading included the use of options and inverse and leveraged ETFs. Bill and his former brokerage firm, TradingBlock (also known as AOS, Inc.) was ordered to pay one customer $65,000 in restitution, as well as an administrative fine of $100,000 and investigation costs of $35,000.
Peter Bill was a financial advisor and registered representative of TradingBlock (AOS) from February 2015 to November 2017. He was also with Purshe Kaplan Sterling from July 2012 to February 2015. He worked at a branch office in Berlin, New Hampshire. Bill also owned Scanwood Limited.
Brokerage firms like TradingBlock have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New Hampshire in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past.