What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: November 17, 2016

According to a recent Order Accepting Offer of Settlement with the Financial Industry Regulatory Authority (FINRA), John S. Hudnall violated securities laws. He allegedly, while registered with BancWest Investment Services, participated in undisclosed and unapproved private securities trnsactions, made unapproved and undisclosed financial sales promotions to firm customers, and provided false information in response to FINRA requests for information. Hudnall allegedly split a customer’s $400,000 real estate investment trust (REIT) investment into two parts, one for $40,000 and one for $360,000. He then disclosed and submitted only the smaller amount to his firm for supervisory review and approval. Hudnall allegedly offered and paid monetary incentives to two customers from his own personal funds to incent them to hold their fixed annuity contracts for at least a year before surrendering them, which allowed him to retain commissions he would not have gotten had the customer surrendered before the year was up.

Hudnall was registered with Morgan Stanley in Purchase, New York from October 2000 until November 2002, Citicorp Investment Services in South San Francisco, California from December 2002 until May 2007, Wells Fargo Advisors in San Leandro, California from May 2007 until September 2009, Merrill Lynch in San Mateo, California from August 2009 until September 2010, Bancwest Investment Services in San Francisco, California from September 2010 until December 2012 and US Bancorp Investments in San Francisco from November 2012 until March 2015. He has six customer disputes against him and one criminal disposition. He is not licensed within the industry.

Please call us today at 312-332-4200 to discuss your options of bringing a legal claim against US Bancorp in the FINRA arbitration forum on a contingency fee basis. The call to us is free with no obligation, so please do not delay. The firm may be responsible for your money losses. We take cases on a contingency fee basis only.


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