Brittney Jade Sias (also known as Rosalie P. Sias) of Westlake Village California a stockbroker formerly registered with Western International Securities Inc. is referenced in a customer initiated investment related arbitration claim which was settled for $100,000.00 in damages supported by accusations that (1) false or misleading statements and omissions had been made by Sias in regard to the customer’s investment account (2) the customer had been poorly advised by Sias with regard to a direct participation program or limited partnership interest sold to the customer as part of an investment strategy and (3) fiduciary obligations to the customer were breached by Sias causing the customer losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00745 (Aug. 28, 2018).
This is the first customer initiated investment related dispute involving Sias’ conduct since Sias has been barred by FINRA in all capacities. In particular, Sias has been barred from associating with any FINRA member in any capacity supported by findings that she refused to cooperate with a FINRA investigation into allegations of her improper receipt of money from a customer of Western International Securities. Letter of Acceptance Waiver and Consent No. 2017053136102 (Oct. 5, 2017).
According to the AWC, Sias was contacted by FINRA on August 3, 2017 regarding the investigation. FINRA called upon her to produce the information and documentation to FINRA by August 10, 2017. Evidently; however, Sias only partially responded to FINRA’s requests. Sias was repeatedly asked by FINRA to provide the missing information but to no avail. After continuing to disregard FINRA’s requests, the regulator found Sias’ conduct violative of FINRA Rules 2010 and 8210.
Sias was discharged by Western International Securities on October 5, 2017 founded on accusations of her failure to cooperate with FINRA.
