DEBRA ANN HOAG is currently employed as a Broker and/or Investment Adviser at FIRST ALLIED SECURITIES, INC. located at 67 Holly Hill Lane, Suite 303, Greenwich, CT, 06830.
DEBRA ANN HOAG has worked at FIRST ALLIED SECURITIES, INC. since October 17, 2012
DEBRA ANN HOAG has 2 Disclosure Event(s).
Date: November 16, 2015 Category: Customer Dispute Allegations: Claimants alleged that they were approached to "invest" in the futures trading by Respondent's registered representative [Third Party], who is not a party to the arbitration. Claimants alleged that [third party] advised the Claimants to liquidate certain securities products and take loans against certain insurance products to make these investments. Claimants further alleged that these investments would be documented as a "note" and that the interest on the note would be payable to them with the profits that [third party]achieved through futures trading. Claimants further alleged that there was no investment in futures trading and the whole scheme designed by [third party] was nothing more than a Ponzi Scheme. As a result of [third party's] activities, Claimants are alleging that the Broker-Dealer, Ogilvie Security Advisors Corp, and certain of its management personnel, including Debra Hoag, are liable for the alleged failure to supervise [third party's] activities, for negligence, breach of fiduciary duty and violations of the Utah Securities Act as well as FINRA Conduct Rules. Damage Amount Requested: $2,015,000.00 Settlement Amount: $230,000.00 Broker Comment: The case was brought by clients of a former broker dealer that Debra Hoag had a minority ownership in. The broker dealer was dissolved so the clients named Debra Hoag even though DH never met or had any interaction with any of the clients. The case was settled with none of the parties admitting any wrongdoing for a small amount in order to end the legal costs in defending their position.
Date: July 26, 2006 Category: Regulatory Initiated By: COMMONWEALTH OF KENTUCKY OFFICE OF INSURANCE Allegations: FAILED TO FILE ANNUALS REPORTS REQUIRED UNDER KENTUCKY VIATICAL INSURANCE STATUES Resolution: Order SanctionDetails: Sanctions: Monetary/Fine SanctionDetails: Amount: $1,000.00 Sanction Details: CHECK WAS CASHED BY STATE OF KENTUCKY ON 07/28/2006 Broker Comment: IN 2005, AGENT APPLIED FOR A LIFE SETTLEMENT LICENSE IN THE STATE OF KENTUCKY. AGENT DID NO LIFE SETTLEMENT TRANSACTIONS IN THE STATE OF KENTUCKY IN 2005 & 2006. KENTUCKY REQUIRES LIFE SETTLEMENT BROKERS TO FILE ANNUAL REPORTS LISTING LIFE SETTLEMENT TRANSACTIONS WITHIN KENTUCKY AND OTHER STATES BY MARCH 1 OF THE NEXT YEAR (IN THIS CASE 2006). DUE TO AN ADMINISTRATIVE OVERSIGHT ON THE PART OF A LICENSING CLERK (JOB DUTY WAS TO MAINTAIN STATE LICENSES AND MONITER LICENSES FOR AGENT) WHO WORKED FOR THE AGENT AND HAS SINCE BEEN TERMINATED, THE ANNUAL REPORT WAS NOT FILED WITH KENTUCKY BECAUSE THE LICENSING CLERK THOUGHT THAT KENTUCKY ONLY REQUIRED REPORTING OF LIFE SETTLEMENTS WITHIN KENTUCKY. ADDITIONALLY A WARNING LETTER DATED MARCH 21, 2006 FROM THE STATE OF KENTUCKY WAS IGNORED BY THE LICENSING CLERK ONCE AGAIN BECAUSE THEY INCORRECTLY BELIEVED THAT THERE WAS NO NEED TO FILE THESE REPORTS. ON JULY 26, 2006 AN AGREED ORDER ISSUED BY THE KENTUCKY OFFICE OF INSURANCE LEVIED A CIVIL PENALTY OF $1000 AGAINST THE AGENT. THE CIVIL PENALTY AMOUNT WHICH WAS PAID IS THE MINIMUM AMOUNT ANY PERSON WHO VIOLATES ANY PROVISION OF THE VIATICAL SETTLEMENT STATUES IN KENTUCKY CAN BE ASSESSED.
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for DEBRA ANN HOAG, click here.
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.
How to choose a broker or investment adviser. Learn More