Ronald Bright is the Subject of FINRA Fine and Suspension
Ronald Bright (CRD #: 2702179), a broker and investment advisor registered with Ameriprise Financial Services, was suspended by FINRA, according to his BrokerCheck record, accessed on April 20, 2022.
According to the findings, between December 2019 and February 2020, Ronald Bright allegedly exercised discretion without written authorization when executing 149 transactions in 58 customer accounts.
Allegedly, none of these accounts had been approved by Ronald Bright's member firm for discretionary trading. FINRA Rule 3260(b) prohibits unauthorized discretionary trading. It is not enough for investors to verbally authorize discretionary trading—they must give written authorization, and the firm must accept the accounts for discretionary trading.
Making unauthorized trades in or facilitating unauthorized withdrawals from a customer's account is a breach of the duty to observe high standards of commercial honor and just and equitable principles of trade, in violation of FINRA Rule 2010.
As part of the terms of the AWC, Ronald Bright consented to
- A 15-day suspension
- A $5,000 fine
You can read the full copy of the AWC here.
On March 18, 2020, Edward Jones fired Ronald Bright after he admitted to failing to communicate with certain clients on the day he executed mutual fund trades in their accounts. Additionally, he allegedly violated the firm's compliance policies.
Ronald Bright 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 52 - Municipal Securities Representative Examination
Ronald Bright is a registered broker in 17 states; he is also a registered investment advisor in Texas.
Besides Ameriprise Financial Services and Edward Jones, Ronald Bright has also worked with Olde Discount Corporation (CRD#:5979).
Kurta Law Can Help
If you lost money while working with Ronald Bright, don't hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
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