Brian M. Wurdemann, of New York, New York, a stockbroker registered with RBC Capital Markets LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Wurdemann failed to comply with an arbitration award rendered against him for collection on a promissory note FINRA Arbitration No. 22-01681 (March 27, 2023). In the arbitration between Wurdemann and RBC Capital Markets LLC, Wurdemann was held liable and instructed to pay RBC Capital Markets LLC $1,488,650.12 in compensatory damages.
Wurdemann is already barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Wurdemann failed to respond to FINRA’s request for information. FINRA Case No. 2022075005001 (February 21, 2023). This bar comes after the Notice of Suspension letter sent to Wurdemann by FINRA on November 16, 2022, and the Suspension from Association letter issued by FINRA on December 12, 2022. Wurdemann did not request to end the suspension within three months of receiving the Notice of Suspension.
FINRA Public Disclosure shows that Wurdemann is referenced in eight customer initiated investment related disputes concerning Wurdemann’s conduct while associated with securities broker dealers. On December 30, 2004, a customer filed an investment related complaint involving Wurdemann’s conduct in which the customer requested $465,097.00 in damages based upon allegations that Wurdemann made omissions of material fact concerning risks of investments during the period that Wurdemann was associated with Merrill Lynch Pierce Fenner Smith Inc.
On December 17, 2012, a customer initiated investment related FINRA securities arbitration claim involving Wurdemann’s conduct was settled for $95,000.00 in damages based upon allegations that Wurdemann made misrepresentations of material fact and made unsuitable recommendations of stocks when Wurdemann was associated with Merrill Lynch Pierce Fenner Smith Inc. FINRA Arbitration No. 11-04436.
Wurdemann was also referenced in a customer initiated investment related complaint that was settled on October 8, 2014, for $125,000.00 in damages based upon allegations that Wurdemann made unsuitable recommendations of options during the period that Wurdemann was associated with UBS Financial Services Inc.
On May 5, 2017, another customer filed an investment related complaint involving Wurdemann’s conduct in which the customer requested compensation based upon allegations that Wurdemann failed to close out a rate lock swap on the customer’s behalf.
Wurdemann was the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $175,000.00 in compensatory damages because Wurdemann and UBS Financial Services Inc. were held liable for sales practice violations. FINRA Arbitration No. 18-03754 (February 19, 2020). The Statement of Claim alleged that Wurdemann breached a contract, breached his fiduciary duties, committed fraud, and made misrepresentations in connection with the sale of municipal bonds.
On December 16, 2020, a customer initiated investment related complaint involving Wurdemann’s conduct was settled for $14,000.00 in damages based upon allegations that Wurdemann made omissions concerning the risks of structured notes when Wurdemann was associated with RBC Capital Markets LLC.
Wurdemann is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $385,000.00 in damages based upon allegations that Wurdemann made misrepresentations in connection with the sale of mutual funds during the period that Wurdemann was associated with UBS Financial Services Inc. FINRA Arbitration No. 20-02388 (January 7, 2022).
On February 27, 2023, another customer filed an investment related complaint involving Wurdemann’s conduct in which the customer requested $355,000.00 in damages based upon allegations that Wurdemann failed to repay funds that he borrowed from the customer when Wurdemann was associated with RBC Capital Markets LLC.
Wurdemann was associated with RBC Capital Markets LLC in New York, New York, as a stockbroker from May 4, 2017, to May 5, 2022.
