NASD announced Monday that James B. Moorehead, a former broker for AmSouth Investment Services Inc., has been barred from the securities industry for life for alleged fraud, forgery, and falsification of documents in connection with variable annuity sales.

The transactions took place from March 2000 to April 2001 while Moorehead was a registered representative of AmSouth Investment Services, a unit of the Birmingham, Ala., banking company. NASD alleged that Moorehead misrepresented the risks associated with investing in variable annuities and purposefully omitted risk disclosure statements from the performance hypotheticals his firm sent to customers.

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