Dung Thanh Nguyen of Houston Texas a stockbroker formerly registered with MetLife Securities Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Nguyen engaged in undisclosed outside business activities while employed by the firm. Letter of Acceptance Waiver and Consent No. 2016050536901 (Apr. 18, 2018).
According to the AWC, in January of 2016, during the time that Nguyen was a broker with MetLife Securities Inc., he joined a Securities Exchange Commission (SEC) registered investment advisory. Specifically, the investment advisory listed Nguyen as a partner who conducted securities business. The AWC stated that between January of 2016 and the time MetLife Securities Inc. terminated Nguyen, he conducted reviews of investments that the investment advisors were considering positioning for the advisory’s clients. The AWC stated that Nguyen was compensated for services he provided the investment advisory.
The AWC stated that throughout this period, Nguyen was required to follow the outside business activity policies of MetLife Securities. Those policies called for Nguyen to provide MetLife Securities with written notification, and to obtain approval from the firm, prior to engaging in any activities outside the scope of Nguyen’s employment.
Nevertheless, the firm was reportedly provided no information from Nguyen about his involvement with the investment advisory. Critically, MetLife Securities reportedly warned Nguyen about his prior failure to procure the firm’s permission to engage in another business activity away from the firm. Consequently, FINRA found Nguyen’s conduct violative of FINRA Rules 2010 and 3270.
Nguyen was discharged by MetLife Securities on June 6, 2016 based upon allegations of him engaging in outside business activities in violation of firm policy. Between January 30, 2017 and July 24, 2017, Nguyen was registered with Callaway Financial Services Inc.
