Maryland Suspends William Ren’s Registration

William Ren (CRD #:5210376), a broker and investment advisor registered with Cambridge Investment Research, has had his registration suspended in Maryland, according to his  Brokercheck Record, accessed on November 8, 2024. Read on to learn more about his alleged conduct as a broker.  

Maryland Regulatory Actions

On October 8, 2024, the State of Maryland issued an Order to Show Cause and an Order of Summary Suspension with regard to a Letter of Acceptance, Waiver & Consent (AWC) that alleged William Ren used unapproved messaging channels.

The state suspended William Ren’s registration pending a final determination in the proceeding instituted by the Order to Show Cause.

Suspension by FINRA

On September 9, 2024, William Ren consented to the entry of findings that he allegedly used an unapproved social media platform for communications relating to his securities business from January 2016 to January 2021.

According to an AWC, William Ren allegedly made multiple posts in WeChat groups relating to the securities industry, including posts discussing investing strategies and services he could provide through LPL Financial. He allegedly did not retain these posts or provide copies to his firm.

Further, William Ren allegedly inaccurately stated in 2019 and 2020 compliance questionnaires that he had only communicated with prospective clients through his LPL Financial email address. He was allegedly individually warned by the firm in 2017 and 2019 to not use WeChat to communicate with clients.

The AWC alleged that these actions led LPL Financial to not retain these communications as required under FINRA Rules and the Securities Exchange Act of 1934.

The AWC concluded that these allegations constituted violations of FINRA Rules 4511 and 2010.

FINRA Rule 4511

FINRA Rule 4511 requires that firms maintain accurate books and records.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

William Ren consented to the following sanctions:

• 30-calendar-day suspension from associating with FINRA members
• $5,000 fine

His suspension ran from October 2 to November 5, 2024. You can read the full AWC here.

Termination Details 

On October 29, 2021, LPL Financial fired William Ren after he allegedly used an unapproved messaging application to promote investment seminars.

Background Information 

William Ren has passed the following exams: 

• Series 66 – Uniform Combined State Law Examination 
• Series 63 – Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 – General Securities Representative Examination 
• Series 6 – Investment Company Products/Variable Contracts Representative Examination  
• Series 24 – General Securities Principal Examination 

He is a registered broker in 32 states. He is also a registered investment advisor in Texas and Illinois. 

 William Ren has also worked with the following firms:  

• LPL Financial (CRD#:6413)
• Edward Jones (CRD#:250) 
• World Group Securities (CRD#:114473) 

Kurta Law Can Help 

If you lost money after working with William Ren, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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.