September 2018-Tampa, FL
The FINRA records of Brian John Hussey, Jr. , a stockbroker who was formerly employed by Ameriprise Financial Services disclose a recent regulatory event resulting in a suspension and a prior customer dispute.
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 May 2018 Hussey was suspended for seven months by FINRA to resolve allegations that he made unsuitable recommendations and mismarked transactions regarding penny stocks and failed to provide notice of de facto discretionary trading at a third party firm. According to the FINRA proceeding Hussey recommended to oa customer that she sell 100 percent of the mutual fund positions in her IRA account and invest the proceeds in penny stocks focussed on the marijuana business.
Solicitation of penny stocks violated his firm’s policy prohibiting soliciting penny stocks. Hussey attempted to conceal his actions by mismarking the the trades as being unsolicited.
The customer brought a claim against the firm and was paid $67,019 in settlement thereof.
Hussey was employed by Ameriprise from 2/2008-6/2018.
If you have losses in an account in an account handled by Brian Hussey , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses through FINRA arbitration.
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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