FINRA Reportedly Bars Brian Radoo after Alleged Dismissal for Outside Business Activities
According to a Letter of Acceptance Waiver and Consent (AWC) signed on December 18, 2020, The Financial Industry Regulatory Authority (FINRA) has reportedly barred advisor Brian Radoo (CRD#: 2558458, North Woodmere, NY) from association with any FINRA member in all capacities after he refused to appear for on-the-record testimony. FINRA launched an investigation after Radoo was reportedly discharged for his “participation in unreported, unapproved outside business activities.”
For Finra’s full findings see FINRA Case #2019064942101.
According to his FINRA BrokerCheck report, Radoo was reportedly registered with Next Financial Group Financial in North Woodmere, NY from 2008 until December 2019. He reportedly has 9 disclosure events on his broker report including 6 customer complaints, 2 employment separations, and 1 regulatory event.
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Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.
When brokers abuse client accounts and 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.
The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
If you are concerned about investments with Brian Radoo and Next Financial Group, the securities attorneys at The White Law Group may be able to help you. For a free consultation with an attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available, is being provided by The White Law Group.
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