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Sam Walton Allegedly Misled Client About Policy Exchange

Sam Walton (CRD #: 6799030), a broker registered with Equitable Advisors, is involved in a pending investor dispute, according to his BrokerCheck record, accessed on January 18, 2023. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On December 13, 2022, an investor alleged that Sam Walton misled them with regard to their options for an internal variable policy exchange in 2022. This dispute is currently pending.

FINRA Rule 2330 

FINRA Rule 2330 establishes requirements for brokers recommending a variable annuity exchange. Brokers must be sure to advise the investor on potential drawbacks of the new policy, including: 

  • Surrender charges 
  • Tax penalties
  • Associated fees
  • Market risk

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulation, deception, and other unethical tactics to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of many other rules may also violate FINRA Rule 2010.

Background Information

Sam Walton has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 6TO – Investment Company Products/Variable Contracts Representative Examination
  • SIE – Securities Industry Essentials Examination

Sam Walton is a registered broker in Kansas, Missouri, Texas, and Washington.

Kurta Law Can Help

If you worked with Sam Walton and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. 

 

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