Glenn Brandon Barred by FINRA Following Allegations of Outside Business Activities
Glenn Brandon (CRD #: 1051682), a broker formerly registered with BB&T Securities, is the subject of a FINRA bar, according to his BrokerCheck record, accessed on November 30, 2021.
This bar stems from allegations that he refused to provide documents and information requested by FINRA pursuant to FINRA Rule 8210 in connection with its investigation into whether he engaged in outside business activities (OBAs) that were not disclosed to or approved by his member firm.
By failing to respond timely to the Rule 8210 document requests, Glenn Brandon violated FINRA Rules 8210 and 2010.
FINRA Rule 8210 states that for purposes of an investigation, FINRA has the right to require a person subject to FINRA’s jurisdiction to provide information orally [or] in writing with respect to any matter involved in the investigation.
A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”
You can read the full copy of the AWC here.
Glenn Brandon’s Alleged Outside Business Activities
According to FINRA Rule 3270, FINRA requires that brokers provide written notice to their firms regarding their outside business activities. By engaging in an outside business activity without providing prior written notice to his firm BB&T Securities Glenn Brandon violated FINRA Rules 3270 and 2010.
A violation of FINRA Rule 3270 also constitutes a violation of FINRA Rule 2010, which requires registered representatives to observe high standards of commercial honor and just and equitable principles of trade.
Glenn Brandon has one business listed in the Outside Business Activity of his detailed BrokerCheck report. (This is where outside businesses that a broker discloses to their firm should appear.)
- Glenn Brandon is a licensed lawyer.
Investor dispute
On February 29, 2016, an investor filed an unsuitability dispute against Glenn Brandon. The damage amount requested was $864,000; however, the case was settled for $212,500. A financial advisor who recommends a security or investment is subject to ethical standards enforced by law. One such standard is known as the suitability rule, which is described in FINRA Rule 2111, which requires registered financial advisors to have a “reasonable basis” to believe that a recommended transaction or investment strategy suits their client’s needs.
Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration if their broker recommends an unsuitable investment.
Employment Resignation
- On January 13, 2021, Glenn Brandon was permitted to resign from BB&T Securities during an internal review of his client’s activity.
- On September 25, 2015, Glenn Brandon voluntarily resigned from Morgan Stanley following allegations that he inappropriately charged high commissions to equity ratios for a specific set of clients.
Background Information
Glenn Brandon has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 3 – National Commodity Futures Examination
- Series 7 – General Securities Representative Examination
- Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)
Glenn Brandon has also worked with the following firms:
- BB&T Securities (CRD #: 142785)
- Morgan Stanley (CRD #: 149777)
- Citigroup Global Markets (CRD#:7059)
- Legg Mason Wood Walker, Incorporated (CRD#:6555)
- UBS PaineWebber (CRD#:8174)
- J.C. Bradford & Co. (CRD#:1287)
Kurta Law Can Help
If you have suffered losses after working with Glenn Brandon, don’t hesitate to get in touch with us today 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 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.