Brian Radoo of North Woodmere, New York, a stockbroker formerly registered with Next Financial Group Inc., is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $76,000.00 in damages based upon accusations that the customer was provided bad advice by Radoo regarding purchases of non-traded real estate investment trusts while Radoo was associated with Next Financial Group. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-00399 (February 24, 2022).
Radoo has been identified in six more customer initiated investment related disputes containing allegations of his activities while he was employed by Next Financial Group, HSBC Securities (USA) Inc., and Chase Investment Services Corp. FINRA Public Disclosure shows that a customer initiated investment related complaint involving Radoo’s conduct was resolved for $13,178.00 in damages founded on accusations of unsuitable trading by Radoo during the time that he was registered with HSBC Securities. According to the complaint, mutual funds sold to the customer were not appropriate given the customer’s objectives for investing.
Another customer initiated investment related complaint regarding Radoo’s conduct was settled for $15,981.36 in damages supported by allegations of an unsuitable unit investment trust purchase for the customer’s account at Chase Investment Services Corp.
Radoo is also identified in a customer initiated investment related written complaint on August 8, 2008, where the customer requested $220,000.00 in damages based upon accusations that Radoo made misrepresentations to the customer concerning an auction rate security when Radoo was employed by Chase Investment Services Corp. According to the complaint, the customer was also provided with unsuitable advice regarding a corporate bond and unit investment trust.
Another customer filed an investment related complaint concerning Radoo’s conduct in which the customer sought $5,020.51 in damages founded on allegations that Radoo failed to follow instructions concerning a Chase Investment Services Corp managed account.
Radoo is the subject of a different customer initiated investment related FINRA securities arbitration claim which was resolved for $137,500.00 in damages supported by accusations of the customer investing in Radoo’s outside business activity, which concerned a company involved in cannabis cultivation. FINRA Arbitration No. 20-00993 (May 4, 2021). The claim alleges failure to supervise by Next Financial Group relating to the customer’s LLC investment.
FINRA Public Disclosure additionally shows that Radoo has been barred from associating with any FINRA member in any capacity based upon findings that he failed to cooperate with FINRA’s investigation into his potential unapproved outside business activity. Letter of Acceptance, Waiver, and Consent No. 2019064942101 (December 18, 2020).
According to the AWC, in November 2020, Radoo was instructed by FINRA to provide documents and information relating to his potential outside business activity. Radoo’s December 2020 response showed that he understood the request and would not supply the documents or information at any time. FINRA determined that Radoo violated Rules 2010 and 8210.
Radoo was associated with Next Financial Group between May 8, 2008, and December 26, 2019. He was discharged by the securities broker dealer founded on allegations of his undisclosed and unapproved outside business activities while registered with the firm.
