Sean A. Brady – First Allied Securities – Securities Investigation
According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred Sean Aaron Brady of First Allied Securities in St. Louis, MO for alleged failure to provide testimony in a FINRA investigation.
According to the Letter of Acceptance, Waiver & Consent, FINRA began an examination into possible sales practice violations committed by Brady while he was registered with First Allied in October 2017.
On April 17, 2018, FINRA staff sent two separate letters to Brady requesting that he provide FINRA with information and documents by May 2, 2018. Brady reportedly did not provide FINRA with any of the information or documents requested in these letters. As he purportedly stated in a phone call in May 2018 with FINRA staff, Brady will not produce the requested information and consents to the bar.
His FINRA BrokerCheck report states that Brady was employed by First Allied Securities in St. Louis, MO from May 2008 until he was fired in October 2017 for allegedly violating the firm’s policies pertaining to “client alleged falsification of signature on documents; text messaging; consolidated account reports.”
Brady has 6 pending customer disputes listed on his broker report. Allegations include: unsuitable recommendations, misrepresentations & omissions, and completing paperwork without customers’ permission.
For FINRA’s full findings see FINRA case # 2017055941601.
Failure to Supervise
The White Law Group is investigating the liability that Lyons’s employers may have for failure to properly supervise him.
Brokerage firms are required to properly supervise their advisors. They must ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Sean Brady’s former employers failed to properly supervise him, the firm may be held responsible for the losses in a FINRA arbitration claim.
If you are concerned about your investments with Sean Brady and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.
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.
For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.