FINRA has suspended Willie Lin, a former Transamerica Financial Advisors broker in Buffalo Grove, Illinois, for seven months and fined him $10,000. FINRA found that Lin placed 990 unauthorized trades in the variable annuity subaccounts of three customers between April 2019 and December 2023. The regulator accepted the settlement, case number 2024084414101, on November 9, 2026.
What happened in the Willie Lin case
Lin rebalanced the variable annuity subaccounts of three customers without their authorization, FINRA found. Those 990 unauthorized transactions violated FINRA Rule 2010, which requires brokers to observe high standards of commercial honor. The conduct continued for more than four years, from April 2019 through December 2023.
In a fourth customer’s annuity, Lin placed 46 transactions during 2023 based on an oral grant of authority given when the account was opened. He never obtained written authorization, and Transamerica never accepted the account as discretionary. FINRA found that this violated Rules 3260(b) and 2010.
Key facts about the Willie Lin FINRA case
The table below summarizes the core details of the FINRA action.
| Broker | Willie Lin (CRD# 6261168) |
| Firm | Transamerica Financial Advisors, Inc. |
| Broker location | Buffalo Grove, Illinois |
| FINRA case number | AWC No. 2024084414101 |
| Unauthorized trades | 990 in three customers’ variable annuity subaccounts, April 2019 to December 2023 |
| Discretionary trades | 46 in a fourth customer’s annuity, January to December 2023 |
| Sanctions | Seven-month suspension in all capacities and a $10,000 fine |
| Firm action | Discharged Lin in December 2024 |
Transamerica warned Lin in writing
In August 2023, Transamerica cautioned Lin in writing that its procedures prohibit all discretionary trading and require same-day customer authorization before placing trades. According to the AWC, Lin continued the rebalancing through December 2023 anyway. The unauthorized activity persisted even after the firm put him on notice.
Transamerica terminated Lin in December 2024 and filed a Form U5 stating that he was discharged for not complying with the terms of his heightened supervision agreement. The firm identified the unauthorized transactions during a review of customer complaints. FINRA’s case grew out of that disclosure.
What variable annuity investors should watch for
Unauthorized subaccount transfers often show up as changes an investor never discussed. Watch for rebalancing you did not approve, shifts in your annuity’s investment mix or risk level, and transfer confirmations you did not expect. Fees, rider changes, or surrender-charge activity tied to transfers you did not request are also red flags.
Lin registered with Transamerica in January 2014 and spent his entire career at the firm, according to his BrokerCheck profile. He is not currently registered as a broker.
What investors should do
Customers who held variable annuities with Willie Lin at Transamerica should request their complete account records from 2019 through 2024, including statements, confirmations, and any discretionary agreement on file. His regulatory history can be reviewed on FINRA BrokerCheck.
A FINRA suspension does not by itself return money to customers. Investors who lost money in unauthorized trades may still have claims against the firm. A securities attorney can review the records and explain the options.
Frequently asked questions about Willie Lin
Who is Willie Lin?
Willie Lin (CRD# 6261168) is a former broker with Transamerica Financial Advisors, Inc. in Buffalo Grove, Illinois. He registered with the firm in January 2014 and was discharged in December 2024.
Why did FINRA suspend Willie Lin?
FINRA found that Lin placed 990 unauthorized trades in three customers’ variable annuity subaccounts between April 2019 and December 2023, plus 46 trades in a fourth customer’s annuity without written authorization. He accepted a seven-month suspension and a $10,000 fine.
Can Transamerica customers recover losses from unauthorized trades?
Possibly. A regulatory suspension does not compensate customers, but unauthorized trading claims can be pursued through FINRA arbitration. A securities attorney can evaluate account records and advise on next steps.
How to recover your losses
If your broker traded your account without authorization, you may have a claim through FINRA arbitration. Acting early preserves records and strengthens your position.
Haselkorn & Thibaut fights for investor recovery
Haselkorn & Thibaut is a securities law firm founded by former Wall Street defense attorneys who shifted their practice to represent investors. The firm has recovered over $520 million for clients in securities matters and maintains a 98 percent success rate in resolved nontraded REIT cases. Attorneys are AV Preeminent rated through Martindale-Hubbell, designated as Super Lawyers, and hold a 5.0-star client review average. The firm operates on a contingency basis — no recovery, no fee.
Contact Haselkorn & Thibaut today
Time matters in unauthorized trading cases. The earlier you act, the stronger your position. The firm offers a free case evaluation to assess your losses, review your account history, and explain your options under arbitration or settlement.
- Main Phone: 1-888-885-7162
- website for a free consultation
Offices in Florida, New York, Arizona, Texas, and North Carolina. Former Wall Street defense attorneys with 95+ years of combined experience. No recovery, no fee.
This article is for informational purposes only and does not constitute legal or investment advice. It is based on FINRA Disciplinary Action No. 2024084414101 and public reporting. Reading this article does not create an attorney-client relationship.
