JOSHUA AARON HUNT is currently employed as a Broker and/or Investment Adviser at BOK FINANCIAL SECURITIES, INC. located at 1200 N. MAYFAIR RD., #303, MILWAUKEE, WI, 53226.
JOSHUA AARON HUNT has worked at BOK FINANCIAL SECURITIES, INC. since July 22, 2010
JOSHUA AARON HUNT has 1 Disclosure Event(s).
Date: September 16, 2010 Category: Customer Dispute Allegations: IN JULY 2008 COLLINS BANK (INSTITUTIONAL INVESTOR) PURCHASED AAA AND AA RATED INVESTMENT GRADE CMOS THROUGH NEXITY BANK, AN AFFILIATE OF NEXITY FINANCIAL. FOLLOWING DECLINES IN THE MARKET VALUE OF THE CMOS, INVESTOR CONTACTED NEXITY BANK'S EMPLOYEE AND SUPERVISOR ALLEGING LOSSES WERE THE RESULT OF CERTAIN MISREPRSENTATIONS AND LACK OF DISCLOSURES ON NEXITY BANK'S PART. NEXITY BANK, THE EMPLOYEE AND SUPERVISOR VIGOROUSLY DISPUTE THE INVESTOR'S ASSERTATION. HOWEVER, TO AVOID THE COST AND UNCERTAINTIES ASSOCIATED WITH LEGAL ACTION, THE MATTER WAS SETTLED. Damage Amount Requested: $77,310.94 Settlement Amount: $77,310.94 Broker Comment: NEXITY BANK IS AN AFFILATE OF NEXITY FINANCIAL SERVICES. MR. HUNT WAS AN INSTITUTIONAL SALESMAN WITH NEXITY BANK'S INVESTMENT DIVISION. NEXITY BANK RELIES UPON A REG B BANK EXEMPTION TO TRANSACT BUSINESS WITH INSTITUTIONAL CLIENTS ONLY (BANKS). MR. HUNT DID NOT PLACE ANY TRADES FOR COLLINS STATE BANK THROUGH NFS. COLLINS STATE BANK PURCHASED NUMEROUS SECURITIES FROM MR. HUNT THROUGH NEXITY BANK, BUT ONLY CLAIMED THE INVESTMENTS WHICH LOST MONEY TO BE UNSUITABLE WITH THE RISKS NOT BEING PROPERLY DISCLOSED. NEXITY BANK BELIEVES THAT BOTH MR. HUNT AND [THIRD PARTY], HIS SUPERVISOR, PROPERLY DISCLOSED ALL ASPECTS OF THIS INVESTMENT, HOWEVER NEXITY BANK DETERMINED THAT IT WOULD BE LESS COSTLY TO SETTLE THE COMPLAINT THAN TO LITIGATE. FOR THAT REASON ONLY DID NEXITY BANK AUTHORIZE A SETTLEMENT IN THIS MATTER.
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