Todd Charles Bauman (CRD #2605865) Has Regulatory Actions and a Customer Dispute Disclosure on FINRA BrokerCheck

Todd Charles Bauman (CRD #2605865) was previously registered as a broker and has two regulatory events and one customer dispute disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on April 16, 2026. If you invested with Todd Charles Bauman and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Actions

Todd Bauman’s FINRA BrokerCheck Report reflects two regulatory action disclosures. Summaries of those disclosures are below:

On February 10, 2026, Todd Bauman’s FINRA BrokerCheck Report states that Washington initiated a final regulatory action. BrokerCheck says the matter involved Bauman Advisory Group LLC and alleged that Todd Bauman was the control person of an investment adviser in violation of the Washington Securities Act. The matter resolved by consent, and BrokerCheck shows a $7,500 fine that was paid on February 11, 2026.

A second FINRA BrokerCheck regulatory disclosure shows that the Nevada Securities Division initiated a final action on April 1, 2021. Todd Bauman’s FINRA BrokerCheck Report says the allegation was a failure to maintain accurate financial books and records. The matter resolved by order, and BrokerCheck lists a $2,500 fine.

Investor Disputes / Customer Complaints

Todd Bauman’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

Todd Bauman’s FINRA BrokerCheck Report shows a regulator-reported arbitration award tied to RFCA Financial Services, Inc. BrokerCheck lists allegations of unsuitability, fraud, and breach of fiduciary duty, with alleged damages of $215,000. It shows an award dated October 19, 2001, for $200,000 in compensatory damages. A separate broker-reported version says the customer complaint later settled on January 9, 2004, for $20,000, which BrokerCheck says was paid in full. Related Award.

Rule Summary #1: FINRA Rule 4511 (General Requirements)

FINRA Rule 4511 requires firms to make and preserve required books and records. A books-and-records regulatory action can raise questions about recordkeeping controls and supervisory practices.

Rule Summary #2: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for recommendations. A customer dispute that includes unsuitability allegations can raise questions about whether the recommendation fit the investor’s profile and needs.

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, Todd Bauman:

Is not currently registered as a broker.

Has passed Series 7, Series 65, and Series 63.

Was previously registered with firms that include NevWest Securities Corporation, Synergy Investment Group, LLC, and Camden Securities, Inc.

Kurta Law Can Help

If you have worked with Todd Bauman 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 | What Is 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.