Securities Arbitration Lawyer Blog
FINRA has permanently barred stockbroker Vonna Kay Husby from the securities industry. The expulsion was handed down by FINRA because Ms. Kay Husby ceased cooperating with FINRA in connection with FINRA’s investigation into whether Husby served as a Power of Attorney and opened an undisclosed bank account that she allegedly co-owned with one of her elderly customers.
Vonna Kay Husby was a financial advisor at Raymond James Financial Services, Inc. in Fairbanks, Alaska, from August 2003 until May 2019. Raymond James terminated her employment on May 9, 2019, alleging that Ms. Kay Husby was a co-owner on a bank account with a customer without providing disclosure to or receiving approval from the firm.
Being an undisclosed beneficiary in a customer account is a serious violation as it may give rise to misconduct, including potential conflicts of interest, or worse, elder abuse.
Subsequent to her firing from Raymond James, Ms. Kay Husby was employed by Ameriprise Financial Services, Inc. in Fairbanks, Alaska, from May 2019 through June 2019. Ameriprise terminated her employment on June 28, 2019, alleging that Ms. Kay Husby provided an inaccurate statement to the firm during the onboarding process and failed to disclose a pending civil litigation.
To summarize, Ms. Kay Husby allegedly inappropriately co-owned an account with an elderly customer, lied during a subsequent employment interview, and failed to cooperate with FINRA’s investigation.
FINRA takes its role to protect senior investors seriously. Just last month, FINRA amended its internal rules and will now expressly contemplate a customer’s age when considering sanctions for brokers who violate FINRA’s rules.
Iorio Altamirano LLP is investigating whether Ms. Kay Husby took advantage of elderly investors.
If you or a loved one were a customer of Vonna Kay Husby and either sustained financial losses or suspect inappropriate activity, contact Iorio Altamirano LLP for a free and confidential evaluation.
Raymond James and Ameriprise Financial Services – Supervisory Duties
Brokerage firms like Raymond James and Ameriprise Financial Services must properly supervise financial advisors and customer accounts. Proper supervision of senior investors’ accounts is especially critical. Brokerage firms must also establish and maintain a reasonably designed system to oversee account activity, such as elder abuse and suitable investment recommendations, to ensure compliance with securities laws and industry regulations. When a brokerage firm fails to supervise their financial advisors or the investment account activity sufficiently, they may be liable for investment losses sustained by customers.
If you have lost money with financial advisor Vonna Kay Husby, Raymond James, or Ameriprise Financial Services, contact New York securities arbitration attorney August Iorio of Iorio Altamirano LLP. August Iorio can be reached at august@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. Iorio Altamirano LLP pursues FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by stockbrokers and brokerage firms.