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Brian Fox Allegedly Sold Shares Without Client Authorization

Brian Fox (CRD #: 5676310), a broker registered with Wells Fargo Clearing Services, allegedly executed unauthorized trades, according to his BrokerCheck record, accessed on February 22, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On December 29, 2022, an investor filed a dispute alleging that Brian Fox sold more shares than instructed between December 22, 2022, and the date of filing. This dispute was denied by the firm, but investors should know that firms can deny disputes without any external review. Investors may still be able to recover losses following a denial. 

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. Discretionary accounts must also be approved by the firm before this trading can occur.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of many other rules may also qualify as violations of FINRA Rule 2010.

Background Information

Brian Fox has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Brian Fox is a registered broker in 26 states and the District of Columbia. He is also a registered investment adviser in New Jersey, Pennsylvania, and Texas.

Kurta Law Can Help

If you worked with Brian Fox and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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. 

 

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