Carl Busch has spent 46 years in the securities industry and has been registered with WFG Investments in Oklahoma City, Oklahoma since 2007. Previous registrations include Southwest Securities in Oklahoma City, Oklahoma (2004-2007); Wachovia Securities in St. Louis, Missouri (2003-2004); Prudential Securities in New York, New York (1985-2003); EF Hutton & Company (1984-1985); Painewebber Incorporated (1980-1984); Paine Webber Jackson & Curtis (1974-1980); and Merrill Lynch Pierce Fenner & Smith (1969-1974). He is a registered broker and investment adviser in four US states: California, Lousiana, Oklahoma, and Texas.
According to his BrokerCheck report, Carl Busch is the subject of one customer complaint and one regulatory sanction, and was discharged from his position at Southwest Securities.
In December 2015 the Financial Industry Regulatory Authority (FINRA) sanctioned Carl Busch following allegations he failed to properly supervise the activities of a registered representative who recommended and engaged in unsuitable trading in an elderly customer’s IRA account, and additionally exercised discretion without prior written authorization. FINRA alleged that Mr. Busch failed to establish and enforce a supervisory system designed to ensure the suitability of transactions, failed to detect the representative’s purchase of high-risk securities, and failed to detect the representative’s unauthorized use of discretion. Mr. Busch allegedly failed to investigate red flags indicating sales practice violations, and failed to ensure the representative’s customers were being charged a limited commission, as he had been directed to charge. Mr. Busch has signed a letter of Acceptance, Waiver, and Consent, agreeing to a $5,000 fine and a 45-day suspension from acting in any principal capacity.
In 2009 Carl Busch filed for Chapter 7 bankruptcy in the United States Bankruptcy Court for the Western District of Oklahoma, Oklahoma City Division. The disposition was discharged in 2010.
In 2007 Carl Busch was discharged from his position at Southwest Securities following allegations he violated firm policies and procedures related to books and records.
In 2001 a customer alleged Carl Busch, while employed at Prudential Securities, recommended unsuitable mutual fund investments. The complaint settled in 2004 for $50,000.
If you have lost money investing with Carl Busch, you may be entitled to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover 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.