Marc Bushey, of Plympton, Massachusetts, has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. Mr. Bushey submitted a Letter of Acceptance, Waiver, and Consent (AWC) in which he consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) findings that he allegedly converted a client’s trust funds for his personal use.
According to FINRA, Marc Donald Bushey, a broker formerly employed with NYLife Securities LLC, assisted his customer with creating a trust in 2007 to benefit the customer’s children. The customer and a third party were appointed as co-trustees. Mr. Bushey then assisted the customer’s trust in opening an account with NYLife Securities, where he served as the registered representative on the account. FINRA found that between November 2015 and September 2016, Mr. Bushey wrote at least seven checks from the trust’s account, made them out to “cash,” and deposited them into his personal account. Mr. Bushey then used the funds for his personal use, according to FINRA. He never had authorization from the trustees for his actions. Continue reading →