Brian Young Suspended by FINRA
Brian Young (CRD #: 4725953), a broker formerly registered with Charles Schwab & Company, has been suspended by FINRA, according to his BrokerCheck record, accessed on September 30, 2022. If you want to learn more about his conduct as a broker, keep reading.
FINRA Suspension
On July 26, 2022, Brian Young consented to the entry of findings that he allegedly failed to amend his Uniform Application of Securities Industry Registration or Transfer (Form U4) in a timely manner to disclose three felony charges and a guilty plea to one charge.
According to a Letter of Acceptance, Waiver & Consent (AWC), Brian Young was indicted for three felonies by a grand jury in Maricopa County, Arizona on January 7, 2020. He allegedly received written notice of these charges on March 17, 2020, and pleaded guilty to one of these charges on July 12, 2021.
Brian Young allegedly failed to amend his Form U4 to disclose these charges and his guilty plea until July 26, 2021, and allegedly falsely stated on two annual compliance questionnaires that he had not been charged with any felonies.
The AWC concludes that these allegations constitute violations of Article V, Section 2(c) of FINRA’s By-Laws and FINRA Rules 1122 and 2010.
Article V, Section 2(c) of FINRA’s By-Laws
Article V, Section 2(c) of FINRA’s By-Laws requires FINRA members to maintain an accurate and current application for registration. Members must update their application for registration in a timely manner when they become aware of the need for revision.
FINRA Rules 1122 and 2010
FINRA Rule 1122 requires brokers to promptly update their membership/registration documentation to ensure its accuracy and completeness.
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
Sanctions
Brian Young consented to the following sanctions:
- $5,000 fine
- 6-month suspension
His suspension began on August 1, 2022, and will end on January 31, 2023.
You can read the full AWC here.
Criminal Charge
On December 9, 2017, Brian Young was charged with three felony charges. He later pleaded guilty to one charge and the other two were dismissed.
Background Information
Brian Young has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
- Series 9 – General Securities Sales Supervisor – Options Module Examination
He previously worked for the following firms:
- Charles Schwab & Company (CRD#:5393)
- ING Funds Distributor (CRD#:37886)
- Thrivent Investment Management (CRD#:18387)
- Jefferson Pilot Securities Corporation (CRD#:3870)
Kurta Law Can Help
If you worked with Brian Young 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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