Carl Wayne Busch, of Oklahoma City, Oklahoma, a stockbroker currently registered with WFG Investments, Inc., has been named in a customer initiated investment related arbitration claim on January 3, 2017, in which the customer requested $50,000.00 in damages based upon allegations that Busch failed to conduct adequate due diligence in reference to the customer’s convertible stock purchases, and provided the customer with offering documents which contained misrepresentations.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Busch has been named in two regulatory actions for misconduct. Particularly, Busch was censured and fined by The State of Oklahoma Insurance Commission according to an Order containing findings that Busch did not provide the Commission with disclosure regarding his past administrative actions and disciplinary sanctions. Case No. 16-0303-DIS (Apr. 29, 2016).
Previously, Busch was fined $5,000.00 and suspended from associating with any FINRA member in any capacity based upon consenting to findings that he did not appropriately supervise a registered representative’s sales practices, which included the representative’s unsuitable investment recommendations to a customer and unauthorized trades in the customer’s individual retirement account. Letter of Acceptance, Waiver and Consent, No. 2013038710502 (Dec. 30, 2015).
Guiliano Law Group
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