Brian Keith Decker of New York New York a stockbroker formerly employed by Legend Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he declined to cooperate with FINRA’s investigation into accusations of his misconduct. Letter of Acceptance Waiver and Consent No. 2017055226501 (May 8, 2018).
According to the AWC, on January 17, 2018, FINRA personnel requested that Decker provide recorded testimony on February 15, 2018 in reference to its investigation into his activities. Decker was reportedly a no-show. The AWC stated that another request had been submitted by FINRA personnel to Decker in which Decker was asked to testify on March 5, 2018. Decker then hired an attorney and sought for his testimony to be postponed to April 11, 2018.
The AWC stated that Decker was subsequently asked by FINRA for information and documentation in reference to its investigation, where FINRA granted Decker until April 10, 2018 to cooperate. Ultimately, counsel for Decker contacted FINRA personnel on April 12, 2018 to reveal that Decker would not be cooperating in FINRA’s investigation. FINRA found Decker’s failure to cooperate as violative of FINRA Rules 2010 and 8210.
FINRA Public Disclosure confirms that Decker has been identified in eleven customer initiated investment related disputes containing allegations of Decker’s misconduct during the time that he was registered with VFinance Investments, Inc. and Legend Securities, Inc. Particularly, a customer initiated investment related civil action involving Decker’s conduct was settled for $6,800.00 in damages founded on accusations of unauthorized over-the-counter equities trading in the customer’s account. Civil Action No. 1451308 (Nov. 26, 2008).
Subsequently, a customer initiated investment related arbitration claim involving Decker’s conduct was settled for $7,000.00 in damages supported by allegations that Decker executed excessive and unsuitable equity trades in the customer’s account; made misrepresentations concerning investments; and generated an inordinate amount of commissions from the customer. FINRA Arbitration No. 09-00790 (May 28, 2009).
Another customer initiated investment related arbitration claim concerning Decker’s conduct was settled for $32,500.00 in damages based upon accusations that Decker breached his fiduciary duties to the customer, negligently transacted in the customer’s account, churned the customer’s investment portfolio, and defrauded the customer in reference to the customer’s equity transactions placed in the customer’s account. FINRA Arbitration No. 12-01033 (June 18, 2013). Thereafter, a customer initiated investment related arbitration claim regarding Decker’s conduct was settled for $75,000.00 in damages founded on allegations including breach of contract, negligent supervision, breach of fiduciary duty, and fraud in regard to the customer’s stock and over-the-counter equities holdings. FINRA Arbitration No. 12-01281 (June 27, 2013).
Thereafter, a customer initiated investment related complaint involving Decker’s conduct was settled for $10,000.00 in damages supported by accusations that over-the-counter equities and stock transactions poorly performed and were not suitable for the customer. Moreover, a customer initiated investment related arbitration claim involving Decker’s conduct was settled for $14,999.00 in damages based upon allegations of the violation of Colorado Securities Act, Consumer Protection Act and FINRA rules; negligence; breach of fiduciary duty; and fraud in regard to the management of the customer’s equity portfolio. FINRA Arbitration No. 14-02734 (July 8, 2015). Decker is also the subject of a customer initiated investment related written complaint which settled for $35,000.00 in damages on July 22, 2015 founded on accusations of suitability and the failure to supervise Decker’s equity transactions in the customer’s account.
Another customer filed an investment related arbitration claim concerning Decker’s conduct where the customer requested $150,000.00 in damages supported by allegations that Decker engaged in unlicensed securities business, transacted in the customer’s account without the customer’s consent, failed to abide by the customer’s instructions, and engaged in a stock manipulation scheme. FINRA Arbitration No. 15-00802 (Apr. 10, 2015). In addition, a customer initiated investment related arbitration claim regarding Decker’s conduct was settled for $10,000.00 in damages based upon accusations that Decker committed fraud, misrepresented the terms and conditions of equities investments, breached his fiduciary obligations to the customer, and churned the customer’s investment account. FINRA Arbitration No. 15-00889 (Apr. 24, 2015).
Decker’s registration with Legend Securities (a firm FINRA expelled on April 17, 2017) was terminated on November 2, 2016. Decker was employed by Worden Capital Management LLC between April 3, 2017 and April 18, 2018.
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