John Anthony Busco of Toms River, New Jersey, a stockbroker formerly registered with Morgan Stanley Smith Barney, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $10,000.00 in damages based upon allegations that Busco made unsuitable transactions in connection with the recommendation and sale of direct investments during the time that Busco was associated with Morgan Stanley Smith Barney. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00781 (June 24, 2020).
FINRA Public Disclosure shows that Busco is referenced in eleven more customer initiated investment related disputes concerning Busco’s conduct while associated with securities broker dealers, including Merrill Lynch Pierce Fenner Smith Incorporated and Citigroup Global Markets Inc. On May 14, 2003, a customer filed an investment related complaint involving Busco’s activities where the customer sought compensatory damages based upon accusations that Busco made unsuitable transactions and misrepresentations during the period that Busco was associated with Merrill Lynch Pierce Fenner Smith Incorporated.
On September 22, 2008, another customer filed an investment related complaint involving Busco’s conduct where the customer requested compensatory damages based upon allegations that Busco made misrepresentations in connection with the recommendation and sale of preferred stocks when Busco was associated with Citigroup Global Markets Inc.
Busco is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $40,000.00 in damages based upon accusations that Busco made unsuitable recommendations with regard to the sale of equities issued by Fannie Mae and Freddie Mac during the time that Busco was associated with Citigroup Global Markets Inc. FINRA Arbitration No. 11-00685 (November 22, 2012).
On July 8, 2019, another customer initiated investment related complaint involving Busco’s conduct was settled for $61,478.26 in damages based upon allegations that Busco made excessive transactions in managed or WRAP accounts when Busco was associated with Morgan Stanley Smith Barney.
Busco’s stockbroker and investment adviser representative registrations with Morgan Stanley Smith Barney were terminated on April 2, 2019. Busco was registered with Laidlaw Company between March 19, 2019, and December 1, 2021. He became registered with Ameriprise Financial Services as a stockbroker and investment adviser representative on November 17, 2021.
