Kurt Allen Berry, of Elizabethton, Tennessee, a stockbroker previously registered with Vanderbilt Securities LLC, has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Berry took part in private securities transactions while associated with Regula Financial Group LLC and Vanderbilt Securities LLC. Letter of Acceptance, Waiver, and Consent No. 2023080473501 (June 17, 2024).
According to the AWC, Berry engaged in private securities transactions from 2019 to 2021. These transactions involved customers collectively investing $517,410.00 in oil and gas wells through securities offerings.
Berry spoke with customers about the oil and gas securities offerings and introduced them to a colleague for due diligence on oil and gas wells. For each customer, Berry received compensation. However, Berry did not provide written notice to Regulus Financial Group or Vanderbilt Securities before participating in these private securities transactions. Therefore, Berry violated FINRA Rule 3280 and FINRA Rule 2010.
FINRA Public Disclosure shows that Berry is also referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $473,000.00 in damages based upon allegations that Berry made misrepresentations of material fact about investment risks during the time that Berry was associated with Regulus Advisors LLC. FINRA Arbitration No. 23-03247 (November 14, 2023).
Berry was associated with Vanderbilt Securities LLC in Elizabethton, Tennessee from November 1, 2019, to July 7, 2022. He was associated with Regulus Advisors LLC in Rockford, Illinois from October 5, 2016, to November 6, 2019.
