William David Brusseau, formerly of Independent Financial Group in Pasadena, California

In July 2009, the Financial Industry Regulatory Authority (FINRA) announced they would bar William David Brusseau from associating from any FINRA member in the future. Brusseau had been a registered representative of Independent Financial Group in Pasadena, California.

According to FINRA’s disciplinary report on Brusseau, the broker borrowed $16,800 from customers without written permission from his firm, which was a violation of NASD and FINRA rules. The Internal Revenue Service had put a $128,484 lean on Brusseau in 2003, which was disclosed after FINRA had made their decision.

In October 2008, Independent Financial Group terminated Brusseau, claiming he never alerted the firm to any customer loans, and that the firm’s written rules prohibited accepting any loans from customers. Prior to his tenure with Independent Financial, Brusseau had worked for Omni Brokerage, Inc. in Pasadena, California from November 2004 to June 2006.

We are currently investigating Mr. Brusseau.  If you or an organization with which you are affiliated have entrusted your money to Mr. Brusseau , we would like to hear from you.

FURTHER READING

In July 2009, NASD barred William David Brusseau him from working with any registered firm or member. The NASD issued the following report regarding disciplinary actions relating to William David Brusseau:

William David Brusseau (CRD #4867722, Registered Representative, Pasadena, California) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Brusseau consented to the described sanction and to the entry of findings that he failed and refused to provide requested information to FINRA. The findings stated that Brusseau borrowed $16,800 from customers when his member firm’s written procedures prohibited borrowing money from customers under any circumstances. The findings also stated that Brusseau neither received written permission nor disclosed the borrowing arrangement before receiving the loan. (FINRA Case #2008015672601)