Brad Brooks is the Subject of a $15,000 FINRA Fine
Brad Brooks (CRD #: 1584633) has been suspended by FINRA following allegations regarding his conduct related to private placement offerings that he controlled. This disclosure appears on his BrokerCheck record, accessed on March 25, 2024. Investors should know that this broker has two other regulatory actions as well as six other customer disputes on his record.
FINRA Suspension
On January 16, 2024, Brad Brooks entered into an Acceptance, Waiver, and Consent agreement (AWC) in which he consented to the findings that he made negligent material misrepresentations and omissions to investors who purchased limited partnership interests in private placements offerings that he controled.
Brad Brooks allegedly was negligent when he failed to inform investors that money had been transferred out of the project by his partner. He also allegedly used $224,000 of proceeds from both entities’ offerings to pay certain expenses by an unrelated partnership.
Terms of the AWC
As part of the terms of the AWC, Brad Brooks consented to a $15,000 fine and a three-month suspension. You can read a copy of the AWC here.
Misrepresentation
FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.
Background Information
Brad Brooks has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- Series 99TO Operations Professional Examination
- Series 79TO Investment Banking Registered Representative Examination
- SIE – Securities Industry Essentials Examination
- Series 3 National Commodity Futures Examination
- Series 7 General Securities Representative Examination
- Series 9 General Securities Sales Supervisor – Options Module Examination
- Series 10 General Securities Sales Supervisor – General Module Examination
- Series 4 Registered Options Principal Examination
- Series 53 Municipal Securities Principal Examination
- Series 24 General Securities Representative Examination
- Series 8 General Securities Sales Supervisor – (Options Module & General Module)
During his 36 years of experience, Brad Brooks has registered with five firms:
- Titan Securities (CRD #: 131392)
- Southwest Texas Capital (CRD #: 104200)
- Wachovia Securities (CRD #: 19616)
- Bear Stearns & Co. (CRD #: 79)
- Shearson Ehman Hutton (CRD #: 7506)
Kurta Law Can Help
If you have worked with Brad Brooks and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.
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