Thomas Jacobs (CRD 4139430) is a Bay City, Michigan broker. FINRA suspended him from association with any member firm in all capacities for two months and assessed a deferred fine of $2,500, according to an AWC issued August 3, 2026.
Investors potentially incurred losses because of securities broker Chad Michael Tusa [CRD: 4524325, Metairie, Louisiana], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Tusa worked for Crown Capital Securities L.P. from April 29, 2002, to May 1, 2024, and LPL Financial LLC from May 1, 2024, to May 20, 2026. Read on to find out more about Tusa’s disclosures.
Specifically, on April 18, 2026, LPL Financial Corporation disaffiliated with Tusa. Notably, LPL Financial alleged that Tusa did not elevate client complaints as required and did not disclose a lien that was subject to reporting requirements.
Additionally, Legacy Investment Strategies, L.L.C. disaffiliated with Tusa on May 21, 2025. Allegedly, Tusa violated several firm agreements and internal compliance requirements, including policies, procedures, and Code of Ethics provisions, and did not disclose important information.
FINRA client complaints can reveal concerns about a broker’s recommendations, disclosures, trading activity, or handling of investor accounts. These disputes may involve unsuitable investments, misrepresentations, unauthorized transactions, excessive trading, or other sales practice violations. Investors who suffered losses should review the broker’s complaint history, consider the allegations and outcomes, and determine whether they may have a claim for financial compensation.
Do you have concerns or questions regarding investments you made with Chad Tusa? You should contact Soreide Law Group at (888) 760-6552 or online and speak with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for hundreds of investors throughout the country. Also, our securities lawyers work on a contingency fee basis and advance all costs. Tusa and brokerage firms Tusa worked for deny allegations of sales practice violations.
Thomas Jacobs (CRD 4139430) is a Bay City, Michigan broker. FINRA suspended him from association with any member firm in all capacities for two months and assessed a deferred fine of $2,500, according to an AWC issued August 3, 2026.
Mark Sullivan (CRD 2531982) is a Bethlehem, Pennsylvania broker. FINRA suspended him from association with any member firm in all capacities for three months and assessed a deferred fine of $10,000, according to an AWC issued August 6, 2026.
Moors & Cabot, Inc. (CRD 594) is a brokerage firm based in Boston, Massachusetts. FINRA censured and fined the firm $125,000 after finding it failed to develop and implement an anti-money laundering compliance program reasonably expected to detect and report suspicious transactions, according to an AWC issued August 24, 2026.
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