MML Stockbroker Barred By FINRA In Investigation
Dustin Michael Blount of Vicksburg Mississippi a stockbroker formerly associated with MML Investors Services LLC has been barred from associating with any FINRA member in any capacity supported by allegations that the stockbroker neglected to respond to FINRA’s request for information. Case No. 2019061481901 (Mar. 9, 2020).
According to FINRA Public Disclosure, Blount was not cooperative with FINRA’s requests in 2019 which led to the stockbroker being suspended on December 30, 2019. FINRA warned Blount that his suspension would automatically convert to a bar unless he took the proper steps to terminate it. Blount failed to seek out the termination of that suspension by FINRA’s March 8, 2020 deadline.
FINRA Public Disclosure reveals that Blount is referenced in a customer initiated investment related complaint which was settled for $25,000.00 in damages on January 24, 2020 based upon allegations that the customer had been misled by Blount’s actions while registered with MML Investors Services. According to the complaint, in October of 2017, the customer was not provided with straightforward information from Blount concerning the costs of exchanging an annuity issued by AXA with one that was issued through Mass Mutual.
On June 20, 2018, Blount was criminally charged in a Mississippi Circuit Court with one count of felony insurance fraud and one count of felony wire fraud along with six other offenses. Criminal Action No. 18-394-WLK.
Blount has also been discharged from prior employer Northwestern Mutual Investment Services LLC based upon allegations of its customers being solicited by Blount without authorization. The stockbroker’s registration with MML Investors Services has been terminated as of February 26, 2019.