Investor Alleges Robert Bragg Committed Fraud and Negligence
Robert Bragg (CRD #: 4767535), a broker registered with Newbridge Securities Corporation, is the subject of a pending investor dispute, according to his BrokerCheck record, accessed on July 24, 2022. Investors may also have engaged his services through Newbridge Financial Services Group. Keep reading if you have questions about his conduct as a broker.
On June 10, 2022, an investor alleged that Robert Bragg committed fraud, negligence, and negligent supervision, as well as making unsuitable investment recommendations and violating FINRA Rule 2210. This dispute is pending.
In a dispute filed on February 24, 2015, an investor alleged that Robert Bragg gave unsuitable investment recommendations, made misrepresentations, and exhibited a lack of honesty and fairness from March 2005 to August 13, 2013. The client sought $460,488 and received a settlement of $60,000.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must use the information contained in an investor’s profile, including the client’s age, tax status, and overall financial situation.
Investors who rely on their broker for recommendations may be able to recover their losses through FINRA arbitration.
FINRA Rules 2210, 2020, and 2010
FINRA Rule 2210 regulates how brokers and firms communicate with the public. This rule prohibits the use of misleading, and deceptive statements in communications with current or potential clients, and requires firms to review and approve public communications before their use.
Similarly, FINRA Rule 2020 bans the use of deceptive and manipulative tactics to influence investors’ decisions. This includes misrepresenting or omitting relevant information, such as an investment’s potential risks, limitations, or returns.
These and other forms of misconduct also violate FINRA Rule 2010, which requires brokers to uphold high standards of commercial honor and just and equitable principles of trade.
FINRA Rule 3110
FINRA Rule 3110 requires firms to establish and maintain systems of supervision. Firms must ensure that supervisors have the appropriate training or experience for their roles.
License Restriction by Colorado Division of Securities
On July 29, 2016, the Colorado Division of Securities filed an Order of Stipulation and Consent against Robert Bragg with regard to his licenses with Newbridge Securities Corporation and Newbridge Financial Services Group.
Starting on December 2, 2016, Robert Bragg was subject to heightened supervision including product restrictions, pre-approval of his communications with the public, and restrictions from principal, supervisory, and managerial duties. These restrictions ended in 2019.
Robert Bragg has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 – Futures Managed Funds Examination
- Series 7 – General Securities Representative Examination
Robert Bragg is a registered broker in eight states and a registered investment adviser in Colorado and Texas.
He previously worked for VSR Advisory Services (CRD#:14503).
Kurta Law Can Help
If you worked with Robert Bragg and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.