Kimberly Nuessmann Investigation
February 2024 -Redwood City, CA
Kimberly Nuessmann, an unregistered stockbroker who was previously registered with Securities America, Inc. discloses a regulatory event on her FINRA record.
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.
In 12/2022, Nuessmann consented to the sanctions and to the entry of findings that she impersonated a customer who was her deceased relative in telephone call with her member firm. The findings stated that Nuessmann submitted a distribution request to the firm to transfer the proceeds of her deceased relative’s individual retirement account to an account controlled by two of her other relatives. The firm did not know that the customer was deceased. Several days later, a firm employer called the customer to verify the distribution request. Nuessmann answered, impersonated the deceased customer and verified the request. The employee discovered that the customer was reported deceased and called the registered representative for the customer’s account for further verification. Nuessmann, who worked with the registered representative, spoke with the employee and indicated that the customer ws not deceased. Ultimately, the firm determined that the customer was deceasded and cancelled the distribution. The FINRA sanctions were a 30 day suspension and a $5,000 fine paid by Nuessmann individually.
Nuessmann was employed with Securities America, Inc. from 11/2011 to 1/2022.
If you have questions about an account handled by Kimberly Nuessmann , contact us to discuss your options.
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