Securities Arbitration Lawyers BlogFINRA Suspends Broker Brian Hussey Following Allegations Of Unsuitable Recommendations
Brian John Hussey, Jr., (CRD #4640067) is a registered broker and investment advisor who is currently suspended by FINRA. His last (and only employer) is Ameriprise Financial Services, Inc. (CRD #6363) of Tampa, FL. He has been in the industry since 2008.
Hussey’s suspension stems from a customer complaint on 9/23/2016 that he recommended unsuitable investments to a customer. The customer, who was also an administrative employee of Ameriprise, requested damages of $88,728.00. The firm settled for $67,019.24.
The customer alleges that Hussey unsuitably recommended that she liquidate two IRAs that she held which was the largest part of her liquid net worth, and invest in penny stocks focused on commercial marijuana. This was inconsistent with the client’s investment “growth” goals for both IRAs. The client lost most of her investments in these speculative securities.
In addition to SEC charges, he has also been barred by FINRA from acting as a broker or other registered agent after his customers complained about these unapproved investments. Pagartanis’ last employer of record was Lombard Securities Incorporated (CRD #27954) in Seatauket, NY, where he worked from 09/07/2017 through 03/17/2018.
Samuel Haddix (CRD #4427350) is barred from association with any FINRA member in any capacity. Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in any capacity.
David Olson was with Morgan Stanley’s St. Petersburg, Florida office until January 2017 when he was discharged after an allegation he engaged in an outside business that was not presented to Morgan Stanley for approval and Olson solicited a loan from a client for that venture. This is frequently referred to as 
Lawrence Fawcett (CRD #5851474) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Fawcett consented to the sanction and to the entry of findings that he failed to produce documents and information requested by FINRA, and failed to appear for on-the-record testimony, in connection with an investigation regarding his outside business activities. Westpark Capital discharged Lawrence Fawcett following allegations that he conducted business from a non-disclosed location as well as made false representations to Westpark.
Joshua Ellis was with LPL Financial in its Kennesaw, Georgia office until October 2017 when he was discharged for failing to timely respond to inquiries from the firm’s compliance department.
avid Barber (CRD #1165082) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Barber consented to the sanction and to the entry of findings that he failed to produce information and documents requested by FINRA during the course of an ongoing examination to determine whether he engaged in unauthorized trading in the accounts of customers of his member firm, exercised discretion in customer accounts without written authorization, or otherwise acted in violation of FINRA rules.