Michael Todd Brown (CRD #2172444) Has 3 Judgment/Lien Disclosures on FINRA BrokerCheck

Michael Todd Brown (CRD #2172444) is a broker with 3 judgment/lien disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on April 10, 2026. It reflects 3 outstanding judgment/lien disclosures. If you invested with Michael Brown and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Judgment / Lien Disclosures

Michael Brown’s FINRA BrokerCheck Report reflects 3 judgment/lien disclosures. A summary of 2 disclosures is below. One additional judgment/lien disclosure remains listed on BrokerCheck.

On April 14, 2025, Michael Brown’s FINRA BrokerCheck report listed a civil judgment/lien for $10,593.86 in favor of JPMorgan Chase Bank, N.A. Michael Brown FINRA BrokerCheck states the matter was filed in state court in DuPage County, Illinois, under Case No. 2022AR000423. The report says the judgment remains outstanding. Brown’s statement says his employer must deduct 15% of his non-exempt gross wages each pay period.

On January 28, 2026, Michael Brown’s FINRA BrokerCheck report listed a civil judgment/lien for $3,327.81 in favor of Citibank, N.A. Michael Brown FINRA BrokerCheck states the matter was filed in the Circuit Court of the Eighteenth Judicial Circuit in DuPage County, Illinois, under Case No. 21 SC 6330. The report says the judgment remains outstanding. Brown’s statement again says his employer must deduct 15% of his non-exempt gross wages each pay period.

Rule Summary #1: FINRA Rule 8312 (BrokerCheck Disclosure)

FINRA Rule 8312 governs what information FINRA releases through BrokerCheck. That matters here because judgment and lien disclosures can appear on a broker’s public BrokerCheck record for investors to review.

Rule Summary #2: FINRA Rule 1122 (Misleading Registration Information)

FINRA Rule 1122 says a member or associated person cannot file incomplete or inaccurate registration information that would be misleading. Accurate disclosure matters because firms, regulators, and investors rely on those records when they assess a broker’s background.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Michael Brown:

Is currently registered with TJM Investments, LLC.

Has passed the Securities Trader Exam (Series 57TO), the Securities Industry Essentials (SIE) exam, Series 7, Series 6, and Series 63.

Was previously registered with firms that include PTR, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Pruco Securities Corporation.

Kurta Law Can Help

If you have worked with Michael Brown and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful Resources: Securities Attorney | Security Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. The firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.