April 2018 -Jasper, Alabama
According to FINRA records, Arshad Hussain , a currently unregistered stockbroker who formerly was employed by NEXT Financial Group, disclose 3 prior customer disputes, two terminations from employment and a currently outstanding judgment/lien.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Arshad Hussain Has Been Discharged Twice
Recently, in March 2018, Hussain was discharged by NEXT Financial Group who makes the following allegation on his FINRA record: “A review of RR trading activity for two customers revealed transactions involving short-term holds on long-term products which appeared to provide no financial benefit to the customers. In addition, the RR concealed the source of the funds by inaccurately completing firm product disclosure forms and product sponsor applications.”
In 7/2007, Hussain was discharged from his prior employer, Edward Jones who makes the following allegation on his FINRA record:“Discretion and engaging in trading practices not in line with firm’s investment policy.”
Hussain discloses a currently outstanding judgement/lien filed in Walker County, AL, in the amount of $1,213 in favor of Capital One Bank.
Arshad Hussain was employed by NEXT Financial from 11/2007-4/2018. NEXT Financial Group is headquartered in Houston, TX, and has over 600 registered persons in over 400 branch offices nationwide.
If you have losses in an account handled by Arshad Hussain or believe that your account has been mishandled, contact us for a no charge consultation to discuss your legal options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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