Fred Brown, Financial Advisor Fred Brown Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
Fred Brown Financial Advisor CRD #1175385
Fred Brown was a formerly licensed financial advisor with Merrill Lynch. According to Fred Brown’s CRD, Fred Brown was suspended from the securities industry in July 2019 and fined $12,500.
According to FINRA Allegations:
Fred Brown consented to the sanctions and to the entry of findings that Fred Brown borrowed $69,000 from two of his member firm’s customers without providing notice to, or receiving written pre-approval from, the firm. The findings stated that, the firm’s written supervisory procedures prohibited its representatives from borrowing money from firm customers. Fred Brown borrowed $55,000 from a friend whose two sons held a corporate customer account at the firm. They agreed to loan Fred Brown $55,000 and took the funds for the loan from the corporate customer account. Fred Brown also borrowed $14,000 from another customer, a senior firm customer. After these customers contacted the firm and notified it of the loans, the firm repaid the loans. The findings also stated that Fred Brown made misstatements to the firm about the loans in his annual compliance questionnaire and during its investigation. The findings also included that Fred Brown willfully failed to timely amend Fred Brown’s Form U4 to disclose tax liens and civil judgments entered against him.
Goodman & Nekvasil, P.A. May Recover Investor Losses:
If you lost money on investments with Fred Brown and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Fred Brown’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Fred Brown and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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