Thomas Bruce Odriscoll (CRD #2416678) Has Regulatory Action Disclosures on FINRA BrokerCheck

Thomas Bruce Odriscoll (CRD #2416678) was previously registered as a broker. His FINRA BrokerCheck report lists regulatory events. We reviewed his BrokerCheck report on January 29, 2026. It reflects two regulatory disclosures. If you invested with Thomas Bruce Odriscoll and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

Thomas Odriscoll’s FINRA BrokerCheck Report reflects two regulatory event disclosures. Summaries are below:

On October 30, 2025, FINRA reported a regulatory action against Thomas Odriscoll related to unpaid fines and/or costs in FINRA Case #2023077022901. The BrokerCheck report states the unpaid amount was $1,557.42. FINRA issued a letter, and the report states his FINRA registration was revoked as of November 25, 2025 for failure to pay fines and/or costs. AWC

On November 20, 2024, FINRA reported an Acceptance, Waiver & Consent against Thomas Odriscoll. The BrokerCheck report states Torch Securities, LLC did not complete annual independent AML testing between 2005 and 2022. It also states Thomas Odriscoll created and submitted two backdated documents to FINRA during a firm examination. FINRA fined him $5,000 and suspended him in all capacities from December 16, 2024 through February 15, 2025. AWC

Rule Summary #1:

FINRA Rule 3310 (Anti-Money Laundering Compliance Program) requires member firms to maintain an AML program. It includes independent testing requirements. Regulatory actions can involve questions about whether a firm followed those program and testing duties.

Rule Summary #2:

FINRA Rule 8320 (Payment of Fines, Other Monetary Sanctions, or Costs; Summary Action for Failure to Pay) covers payment of FINRA fines, monetary sanctions, and costs. It also permits summary action when a person fails to pay. BrokerCheck disclosures may involve revocation or suspension linked to nonpayment.

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, Thomas Bruce Odriscoll:

Is not currently registered with any firm.

Has passed 3 principal/supervisory exams, 4 general industry/product exams, and 1 state securities law exam.

Was previously registered with firms that include Torch Securities, LLC and J.P. Morgan Securities Inc.

Kurta Law Can Help

If you have worked with Thomas Odriscoll 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 | Securities Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our 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.