Financial Advisor Bryan Benson, Wells Fargo Clearing Services, Tucson, AZ
Bryan Benson Reportedly Barred after Failure to Provide Testimony in FINRA’s Investigation
According to the Financial Industry Regulatory Authority (FINRA, the regulator has reportedly barred broker Bryan Benson after he refused to provide information for its investigation into a customer complaint.
Benson was reportedly registered with Wells Fargo Clearing Services from 2007 to 2020, according to a Letter of Acceptance, Waiver and Consent (AWC). The firm reportedly filed a Form U5 in which it said that Benson voluntarily terminated his registration on December 27, 2019.
In April 2020, FINRA requested documents from Benson related to “an investigation into an investment-related customer complaint,” according to the AWC. Benson’s email to FINRA staff allegedly stated that he would not produce the requested documents, for which the industry’s self-regulator barred him, FINRA says.
Benson reportedly has one customer dispute from April 2017 alleging unsuitable investments, according to his BrokerCheck report. The suit sought $1.3 million in damages but was settled for $415,000, according to FINRA.
When brokers abuse client accounts or conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
Free Consultation with a Securities Attorney
If you are concerned about investments with Bryan Benson, the securities attorneys of The White Law Group may be able to help you. For a free consultation with a securities attorney, please call 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
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