Former First Allied financial advisor, Sean Aaron Brady (Brady), recently settled allegations with the Financial Industry Regulatory Authority (FINRA) following an enforcement action. The underlying basis of the investigation involved numerous customer complaints involving alleged unsuitable investments, forged documents, negligence, fraud and breach of fiduciary duty. As a consequence of Brady’s failure to cooperate with FINRA’s investigation, FINRA permanently barred him from the financial industry.
Brady (FINRA CRD No. 4365173) entered the financial industry in 2001. From 2001 to 2008, Brady worked for FFP Securities, Inc. From 2008 to 2017, and during the relevant time period, Brady worked for First Allied Securities, Inc. Brady’s FINRA BrokerCheck report discloses 12 negative disclosures, including nine customer disputes. Following his disciplinary action, Brady no longer woks in the financial industry.
FINRA’s Department of Enforcement initiated an investigation into Brady’s alleged misconduct. FINRA specifically investigated Brady’s misconduct as alleged by multiple customers all with similar claims that he recommended investments on the basis of incorrect or forged account information. FINRA sent Brady a request to provide documents and information pursuant to FINRA Rule 8210. According to FINRA, Brady failed to cooperate with the investigation.
Based upon the foregoing alleged misconduct, FINRA asserted Brady violated FINRA Rules 2010 and 8210. Specifically, FINRA Rule 8210 authorizes FINRA, in the course of its investigations, to require persons associated with a FINRA member to “provide information orally, in writing, or electronically . . . with respect to any matter involved in the investigation...” Here, Brady failed to provide information in response to FINRA’s request, thereby violating FINRA Rule 8210.
Lufrano Law, LLC is a national investment litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. Please contact us at (800) 627-2179 for more information if you have been the victim of investment negligence or fraud.