Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 11, 2016 indicate that former California-based US Bancorp broker John Hudnall 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 speaking to investors who have complaints regarding Mr. Hudnall (CRD# 4200298).
John Hudnall has spent 14 years in the securities industry and was most recently registered with US Bancorp Investments in San Francisco, California (2012-2015); Bancwest Investment Services in San Francisco, California (2010-2012); Merrill Lynch in San Mateo, California (2009-2010); Citicorp Investment Services in San Francisco, California (2002-2007); and Morgan Stanley DW in Purchase, New York (2000-2002). He is currently not registered with any state or firm.
According to his BrokerCheck report, John Hudnall is the subject of two customer complaints and one pending regulatory investigation.
In May 2016, John Hudnall was named respondent in a FINRA complaint alleging he participated in “an undisclosed and unapproved private securities transaction.” According to FINRA, Mr. Hudnall recommended and sold a real estate investment trust (REIT) to an elderly customer, and split the transaction into two transactions of $40,000 and $360,000. FINRA alleges, “To circumvent his firm’s supervisory review of such a large transaction of this kind, Hudnall executed the $360,000 portion of the REIT Investment for the customer directly with the REIT product sponsor and without providing the requisite prior written notice to his firm. The $400,000 REIT Investment exceeded the firm’s supervisory thresholds and thus, if fully disclosed to the firm, would have triggered additional supervisory review and likely would have been disapproved.” Mr. Hudnall allegedly also made a promotional offer “in which he promised to pay certain customers who purchased fixed annuities 1% annual interest if they held their fixed annuities for at least a year, when in fact this offer was not part of the fixed annuity product that he was selling,” but did not disclose that the interest payments would ultimately be paid from his personal funds. FINRA also alleges that Mr. Hudnall sold an unsuitable variable annuity to an elderly customer and incorrectly responded to a FINRA request for information. The action remains pending.
In 2014, a customer alleged that John Hudnall, while employed at US Bancorp Investments, executed a transaction without his knowledge. The complaint settled in 2013 for more than $2,000.
In 2005, a customer alleged that John Hudnall, while employed at Citicorp Investment Services, misrepresented material facts related to an investment. The complaint settled in 2005 for $2,500.
If you have lost money investing with John Hudnall, 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.