Brian Wurdemann Suspended by FINRA
Brian Wurdemann (CRD #: 4206425), a broker formerly registered with RBC Capital Markets, has been suspended by FINRA, according to his BrokerCheck record, accessed on July 6, 2023. If you want to know more about his alleged conduct as a broker, read on.
FINRA Suspension
On March 27, 2023, Brian Wurdemann received a Letter of Suspension alleging that he failed to comply with an arbitration award/settlement agreement or to adequately respond to a FINRA request for information as to the status of his compliance.
His suspension will continue until the required payment is made or discharged.
On July 27, 2022, RBC Capital Markets filed a complaint alleging that Brian Wurdemann breached a promissory note. An arbitration award made him liable for $1,488,650.12, plus interest and various fees. You can read a copy of the arbitration award here.
Bar by FINRA
On November 16, 2022, Brian Wurdemann received a Letter of Suspension from FINRA alleging that he failed to respond to requests for information. His suspension automatically converted to a permanent bar on February 21, 2023.
FINRA Rule 9552
FINRA Rule 9552 penalizes members who fail to provide documents, information, or testimony requested by FINRA with a suspension. This suspension converts to a bar if the member fails to request an end to their suspension within three months.
Investor Disputes
On August 26, 2020, an investor alleged that Brian Wurdemann misrepresented the nature of three mutual fund investments from 2012-2018. The client sought $1 million in damages and received a settlement of $385,000.
Multiple investors filed a dispute on October 31, 2018, alleging that, from June 2009 to July 2011, Brian Wurdemann made misrepresentations. This dispute was settled for $170,000. You can read the full arbitration details here.
On June 2, 2017, an investor alleged that Brian Wurdemann failed to follow their instructions to close out an interest rate lock swap, resulting in $36,000 in extra costs for the client. This dispute was denied by the firm.
However, investors should know that firms don’t need to permit an external review before denying a dispute. Investors may be able to recover their funds by seeking out FINRA arbitration following a denial.
FINRA Rule 2020
FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence investors’ decisions. Misrepresenting an investment’s potential limitations, requirements, and other information violates this rule.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
Background Information
Brian Wurdemann has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 – Futures Managed Funds Examination
- Series 7 – General Securities Representative Examination
He previously worked for the following firms:
- RBC Capital Markets (CRD#:31194)
- UBS Financial Services (CRD#:8174)
- Morgan Stanley Smith Barney (CRD#:149777)
- Citigroup Global Markets (CRD#:7059)
- Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
Kurta Law Can Help
If you worked with Brian Wurdemann 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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