Brisker retains securities license; details clarified

By Tom Corrigan -

While he has been terminated as a securities agent or representative of Parkland Securities, LLC, well-known — if beleaguered — Portsmouth insurance agent and financial advisor Fred W. Brisker retains a license to sell investment securities and, presumably, related products.

As was previously reported, Brisker is listed as “not currently registered as broker” on the website for the Financial Industry Regulatory Authority (FINRA). But it turns out that does not mean Brisker’s license has been revoked. In actuality, Brisker has two years to sign up with other securities firms, and keeps all the licenses for which he has obtained the appropriate qualifications.

The FINRA site states Brisker was terminated March 5 from employment at Parkland Securities, which resulted in FINRA removing him from its rolls of active brokers.

“The firm (Parkland) has reason to believe that the representative forged the signature of another insurance agent, and misrepresented the other agent as his employer, in connection with submitting his own disability claim form to an insurance company,” the website reads under a headline labeled “Allegations.”

The site further lists two separate federal 2016 liens against Brisker totaling $457,434. A $108,823 tax lien from 2011 is listed as pending.

“I am issuing this statement to clarify the details regarding my employment separation with Parkland Securities LLC,” Brisker said in a written response Wednesday night exclusive to The Daily Times. “I am, in fact, no longer registered as a broker with that firm, however, my securities licenses, for which I passed qualification exams, remain valid. I am free to register with another securities firm.

“My insurance licenses also remain active,” Brisker pointed out. “I have not been disciplined by any regulatory agency, despite reports to the contrary. In 2016, I voluntarily reported my tax liens to my securities firm and FINRA. At this time, the amounts owed are disputed and being negotiated. I want all clients to know their investments are unaffected. Their accounts remain open and intact.”

FINRA describes itself as an independent, nongovernmental regulator for all securities firms doing business with the public in the U.S. “We are authorized by Congress to protect America’s investors by making sure the securities industry operates fairly and honestly,” the website reads at one point.

Brisker is also listed as the owner of the Hot Springs Car Wash in Portsmouth, and Office Rental Space, as well as the Fred W. Brisker Insurance Agency. The insurance firm had not been shut down as was hinted on a local website, but was operating normally early this week, according to the person who answered the phone for the firm.

For at least a month or more, rumors and allegations have flowed about Brisker’s alleged involvement with various criminal activities ranging from human trafficking to involvement with prostitution. His arrest has been reported on social media and at least one website numerous times. The Daily Times continues to investigate these rumors, but has found no evidence of Brisker’s arrest. It is unclear if the allegations made against Brisker by Parkland could result in criminal charges. Local law enforcement, as well as the Southern Ohio office of the Federal Bureau of Investigations, all have declined to confirm or deny any investigation into Brisker’s rumored activities.

By Tom Corrigan

Reach Tom Corrigan at 740-353-3101 ext. 1931

Reach Tom Corrigan at 740-353-3101 ext. 1931