Thomas Tousignant Allegedly Bought Variable Annuity Without Client Authorization

Thomas Tousignant (CRD #: 5137431), a broker registered with Securities America, was the subject of a recent dispute, according to his BrokerCheck record, accessed on August 19, 2022. If you have questions about his conduct as a broker, read on.

Investor Dispute

On May 13, 2022, an investor alleged that Thomas Tousignant made an unauthorized purchase of a variable annuity in 2022. Variable annuities are complex investments that do not suit their investor’s needs. This dispute was denied by the firm.

However, investors should know that firms don’t need to permit an external review before denying disputes. Investors can still pursue FINRA arbitration after a denial and potentially recover their losses.

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which limits brokers to exercising their trading discretion in pre-approved discretionary accounts.

Bankruptcy

On January 29, 2020, Thomas Tousignant’s bankruptcy was discharged.

Background Information

Thomas Tousignant has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Thomas Tousignant is a registered broker in eight states.

He has also worked for Sunset Financial Services (CRD#:3538).

Kurta Law Can Help

If you worked with Thomas Tousignant and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.