Brian Hussey: One Customer Complaint and One FINRA Sanction

Brian HusseyPublic records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 13, 2018 indicate that former Florida-based Ameriprise Financial Services broker/adviser Brian Hussey has been sanctioned by FINRA in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Hussey (CRD# 4640067).

Brian Hussey has spent ten years in the securities industry and was most recently registered with Ameriprise Financial Services in Tampa, Florida (2008-2018). He has no previous registrations. He has passed two securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on May 15, 2008, and Series 7 (General Securities Representative Examination), which he obtained on February 15, 2008. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received one customer complaint and one FINRA sanction.

In May 2018 FINRA sanctioned him following allegations he unsuitably recommended a customer sell “100 percent of the mutual fund positions in her IRA accounts and invest the proceeds in penny stocks focused on the marijuana business, Fusion Pharm, Inc. (“FSPM”) and Hemp, Inc. (“HEMP”).” According to FINRA’s findings, these transactions were solicited in contravention of the firm’s policies which prohibited representatives from soliciting penny stocks. To carry out the transactions, according to FINRA, Mr. Hussey marked solicited trades as unsolicited in the client’s accounts to circumvent the firm’s policy. Additionally, according to FINRA, after the SEC issued and eventually lifted a suspension of trading in FSPM stock, Mr. Hussey purchased an additional $22,679.50 in the product, and when the firm made inquiries regarding the activity, he recommended the client move her account to another FINRA firm, where he engaged in discretionary trading, with the customer’s permission, using her login credentials. FINRA states he did not disclose his exercise of discretion or his discretionary authority in the third party account to his firm or to the executing firm. When the customer complained to Mr. Hussey’s firm asserting losses totaling $58,572 in her accounts with the firm and the third party account, as well as damages, the firm settled for more than $67,000, which Mr. Hussey is obligated to repay to the firm. FINRA also states that the penny stock investments were unsuitable for the customer and that by mis-marking unsolicited trades as solicited, he caused his firm to maintain false and inaccurate books and records. He was issued a seven-month suspension.

In 2016 a customer alleged Brian Hussey, while employed at Ameriprise Financial Services, recommended unsuitable investments in common and preferred stock and penny stock. The complaint settled in January 2017 for more than $67,000.

If you or someone you know has lost money investing with Brian Hussey, call 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.

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