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Philip Brisard Named in FINRA Complaint

Philip BrisardFormer New York-based Ridgeway & Conger broker is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Brisard (CRD# 2646923).

Philip Brisard has spent 19 years in the securities industry and was most recently registered with Ridgeway & Conger in Jericho, New York (2009-2016). Previous registrations include Gunnallen Financial in New York, New York; Raymond James Financial in St. Petersburg, Florida; National Securities Corporation in Seattle, Washington; IAR Securities in New York, New York; Ash & Company in Great Neck, New York; and HGI in Jericho, New York. Two of Mr. Brisard’s former employers, IAR Securities and HGI, have since been expelled by FINRA. He is currently not registered with any state or firm.

According to his BrokerCheck report, Philip Brisard is the subject of two customer complaints and one pending regulatory complaint.

In March 2016 Philip Brisard resigned from Ridgeway & Conger following allegations he sold unsuitable products and charged excessive commissions.

In January 2016 Philip Brisard was named in a FINRA complaint alleging he sold an unregistered security consisting of “interest-only strips from loans issued by the United States Small Business Association (SBA) meant only for Qualified Institutional Buyers (QIBs) to individual retail investors at undisclosed markups for 14-33 percent using general solicitation emails that fraudulently misrepresented the product and the respondents’ role in its development.” According to FINRA’s complaint, Mr. Brisard “willfully violated” federal securities law by misrepresenting material facts and denying investors “the opportunity to make an informed decision” about the investment. The action remains pending.

In 2009 a customer alleged Philip Brisard, while employed at Gunnallen Financial, misappropriated funds and executed unauthorized transactions. The complaint settled for $10,000, to which Mr. Brisard individually contributed $10,000.

In 2001 a customer alleged Philip Brisard, while employed at Gunnallen Financial, engaged in churning, excessively used margin, and misrepresented material facts related to an investment. The complaint settled for $27,500, to which Mr. Brisard individually contributed $2,500.

If you or someone you know has lost money investing with Philip Brisard, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

This article is based on publicly available information provided by FINRA on April 7, 2016.