The Soreide Law Group (888-760-6552) obtained the following information on FINRA’s website under, Disciplinary and Other FINRA Actions December 2016.”
Kenley Brisard (CRD #2641960, Weston, Florida) FINRA Case #2010022046101
Philip Brisard (CRD # 2646923, Wellington, Florida) FINRA Case #2010022046101
Were both barred by FINRA for allegedly selling an unregistered security that consisted of interest-only strips from loans issued by the United States Small Business Administration (SBA) meant only for Qualified Institutional Buyers (QIBs) to individual retail investors using general solicitation emails that materially misrepresented the product and their role in its development.
FINRA’s findings stated that the misrepresentations and omissions in the statements that the Brisards made to their clients were material because a reasonable investor would consider them important in making investment decisions. They denied the opportunity for their clients to make an informed decision about whether to invest in the SBA interest-only security.
FINRA’s findings also stated that the Brisards allegedly sent materially false emails containing similar misrepresentations and omissions to additional clients and prospects in connection with offers of the SBA interest-only security.
Also, FINRA’s findings included that Kenley and Philip Brisard marketed and sold the SBA Interest-Only Security through general solicitations without an exemption and at no time did they attempt to determine whether any of the investors to whom they sold the SBA interest-only security were QIBs.
According to FINRA’s BrokerCheck, Kenley and Philip Brisard were both permanently barred by FINRA from acting as a broker or otherwise associating with firms that sell securities to the public. They were both registered in the securities industry for 19 years and were both registered with the following firm:
03/25/2009 - 03/11/2016 Ridgeway & Conger, Inc. Jericho, NY
If you were a client of Kenley or Philip Brisard of Ridgeway & Conger of Jericho, NY, and experienced losses due to their actions or recommendations, call Soreide Law Group for a no-cost consultation with a lawyer regarding the possibility of recovering your losses at: 888-760-6552.
We represent our clients nationwide before FINRA on a contingency basis.
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