Brian Radoo of North Woodmere New York a stockbroker formerly registered with Next Financial Group has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Radoo failed to comply with FINRA when he was under investigation for possibly engaging in outside business activities. Letter of Acceptance Waiver and Consent No. 2019064942101 (Dec. 18, 2020).
According to the AWC, on December 26, 2019, FINRA received word from Next Financial Group that Radoo was discharged from employment founded on allegations of Radoo taking part in undisclosed and unapproved outside business activities.
By November 17, 2020, FINRA began investigating Radoo’s conduct to determine whether he violated FINRA rules. Radoo was sent a request from the regulator which called upon him to provide documents and information relating to the accusations against him. FINRA received an email from Radoo on December 4, 2020 which revealed that he understood that request. The regulator determined that Radoo refused to cooperate in the investigation which was a violation of FINRA Rules 2010 and 8210.
Radoo has been identified in six customer initiated investment related disputes regarding allegations of his wrongdoing during the period that he was registered with securities broker dealers including Chase Investment Services Corp, HSBC Securities (USA) Inc. and Next Financial Group Inc. FINRA Public Disclosure reveals that a customer filed an investment related complaint concerning Radoo’s conduct where the customer requested $20,000.00 in damages based upon accusations of an unsuitable fixed annuity purchase and unauthorized contribution into the annuity by Radoo at Chase Investment Services Corp.
Another customer initiated investment related complaint involving Radoo’s activities was resolved for $13,178.00 in damages supported by allegations of unsuitable mutual funds that were sold to the HSBC Securities customer. Radoo is also the subject of a customer initiated investment related written complaint which was settled for $15,981.36 in damages founded on accusations that the customer was placed into unit investment trusts that were not suitable for the customer during the period that Radoo was associated with Chase Investment Services Corp.
Another customer filed an investment related complaint regarding Radoo’s activities in which the customer sought $220,000.00 in damages based upon allegations of misrepresentation and unsuitable advice by the stockbroker concerning an auction rate security and unit investment trust held in the Chase Investment Services customer’s account. Radoo is also referenced in a customer initiated investment related written complaint where the customer requested more than $5,000.00 in damages supported by accusations that the customer’s instructions were not followed by Radoo as it pertained to a managed account at Chase.
On April 8, 2020, an additional customer filed an investment related FINRA securities arbitration claim concerning Radoo’s activities in which the customer sought more than $5,000.00 in compensatory and punitive damages founded on allegations of Radoo soliciting the customer’s investment in a cannabis cultivation company through one of Radoo’s outside business activities while at Next Financial Group. FINRA Arbitration No. 20-00993. The claim also alleges that Radoo’s activities were not supervised by Next Financial Group Inc.
Radoo was registered with Next Financial Group between May 8, 2008 and December 26, 2019. He was registered with Union Capital Company between March 13, 2020 and May 18, 2020.