Brian Michael Travers, of Melville, New York, a stockbroker formerly registered with MML Investors Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in an investigation into allegations that he engaged in unapproved private securities transactions and outside business activities. Letter of Acceptance, Waiver and Consent, No. 2016051017101 (Dec. 13, 2017).
According to FINRA Public Disclosure, Travers was employed with MML Investors Services from November 22, 2013 to April 4, 2017, at which point he was fired based upon allegations that he engaged in an outside business activity that was never disclosed to the firm.
According to the AWC, FINRA launched an investigation into Travers’ activities, where on November 1, 2017, FINRA called upon Travers to provide recorded testimony in reference to allegations that he sold away from his firm and participated in unapproved outside business activities while registered with MML Investor Services.
The AWC stated that Travers acknowledged with FINRA personnel that he received their request for his testimony but confirmed that he would at no point be cooperating in FINRA’s investigation. FINRA found that Travers’ refusal to testify in the investigation was conduct violative of FINRA Rules 2010 and 8210, resulting in FINRA’s imposition of a permanent bar.
Since June 11, 2014, Travers has been associated with five different broker dealers, one of which has been expelled by securities regulators for violation of federal securities laws or is otherwise defunct.
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