Sean Aaron Brady of Saint Louis Missouri a stockbroker formerly employed by First Allied Securities Inc. 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 provide documents and information to FINRA in an investigation into allegations of his sales practice violations. Letter of Acceptance Waiver and Consent No. 2017055941601 (Sept. 8, 2018).
According to the AWC, in October of 2017, FINRA launched an investigation into Brady’s activities to determine whether he committed violative sales practices while associated with First Allied Securities. Brady was evidently sent two letters from FINRA on April 17, 2018 which called upon him to provide documents and information to FINRA by May 2, 2018. Brady reportedly failed to respond to either of FINRA’s letters.
The AWC stated that in May of 2018, Brady spoke with FINRA personnel, where he acknowledged to having received FINRA’s request but refused to provide the information and documentation requested by FINRA at any point. FINRA found Brady’s failure to cooperate to be violative of FINRA Rules 2010 and 8210.
FINRA Public Disclosure reveals that Brady has been identified in six customer initiated investment related disputes pertaining to accusations of his misconduct during the time that he was registered with First Allied Securities. For example, on March 5, 2018, a customer filed an investment related complaint concerning Brady’s conduct where the customer requested $685,000.00 in damages based upon allegations that the customer’s net worth was misrepresented by Brady, and that Brady completed the customer’s investment documentation without procuring the customer’s consent.
Additionally, on March 9, 2018, a customer filed an investment related complaint regarding Brady’s activities in which the customer sought $1,360,000.00 in damages founded on accusations that Brady made unsuitable investment recommendations concerning annuities and real estate securities. On the same day, another customer lodged a customer initiated investment related dispute, seeking $1,560,000.00 in damages supported by allegations against Brady of omissions and misrepresentations concerning variable annuity, direct investment and real estate security transactions executed in the customer’s account.
Brady was discharged from First Allied Securities, Inc. on October 20, 2017, based upon accusations that he falsified customer documentation.
The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.
This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
