Glenn Edward Brandon Jr. of Birmingham Alabama, a stockbroker formerly registered with BBT Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that he failed to comply with an investigation concerning allegations of his outside business activities in violation of FINRA rules. Letter of Acceptance Waiver and Consent No. 2021070227901 (October 15, 2021).
According to the AWC, FINRA received notification from BBT on February 2, 2021, that it terminated Brandon as a stockbroker. Brandon was permitted to resign on January 13, 2021, when the securities broker dealer internally reviewed his activities with a customer. FINRA launched an investigation into Brandon following this notification to determine if he engaged in outside business activities without disclosing them to BBT securities and getting its approval.
The AWC states that on August 5, 2021, Brandon was sent a request from the regulator. This request called for him to provide information and documents so that FINRA could evaluate the circumstances of Brandon’s termination from BBT. Brandon’s lawyer informed FINRA that Brandon would not comply with the investigation at any time. The stockbroker refused to turn over the requested information preventing the regulator from determining the nature of these alleged outside business activities. For violating Rules 2010 and 8210 – which govern stockbrokers’ requirements to comply in investigations – Brandon was barred as a stockbroker.
FINRA Public Disclosure shows that Brandon has been identified in seven customer initiated investment related disputes regarding accusations of his harmful actions when he was registered with securities broker dealers, including JC Bradford Co. LLC, UBS PaineWebber Inc., Morgan Stanley Smith Barney (MSSB), and Citigroup Global Markets Incorporated (CGMI).
Brandon has been referenced in a customer initiated investment related FINRA securities arbitration claim where the customer was awarded compensatory damages supported by findings that Brandon gave them unsuitable advice concerning a retirement fund. The claim alleges that Brandon’s advice at UBS failed to align with the customer’s long-term growth goals. A different customer initiated investment related civil action involving Brandon’s activities was settled to resolve accusations that unauthorized trades were executed in their account. The civil action also alleges that unsuitable investment recommendations were made by Brandon relating to stock and corporate debt investments at Citigroup Global Markets.
Brandon is also the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $49,000.00 in damages based upon allegations of unauthorized stock transactions by Brandon for the customer’s Citigroup Global Markets account. The stockbroker is additionally referenced in a customer initiated investment related written complaint on December 20, 2016. The customer sought $187,000.00 in compensatory damages founded on accusations of bad closed-end fund transactions by Brandon for their Morgan Stanley Smith Barney account.
On May 24, 2017, a different customer initiated investment related complaint concerning Brandon’s conduct was settled for $212,500.00 in damages supported by allegations that the customer had been placed into closed-end funds, common and preferred stock, and municipal debt investments that were not suitable for them when Brandon was employed by Morgan Stanley Smith Barney.
Brandon was registered with BBT Securities between September 25, 2015, and February 2, 2021.