FINRA suspends Thomas Brenner over private securities transactions.
In September, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that Thomas Brenner of Orrville, Ohio, a registered representative formerly with First American Securities submitted an acceptance, waiver and consent letter whereby he was suspended from association with any FINRA member in any capacity for sixteen months and ordered to pay nearly $200,000. The FINRA complaint asserted that Thomas Brenner participated in two private securities transactions away from the firm, without obtaining permission from First American Securities. FINRA found that Thomas Brenner participated in two separate private securities offerings, one involving notes from a medical receivables company. FINRA found that Brenner’s statements to the investors were not fair and balanced, and contained misleading exaggerated and unwarranted representations.
Registration and disciplinary history
In order to lawfully sell investments to the public, a registered rep must either be registered or exempt from registration. Thomas Brenner was registered with:
According to FINRA’s CRD disclosure report, Thomas Brenner has been the subject of one regulatory investigation.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
When investors contact our firm they can expect prompt attention, and a detailed analysis of their issues. Typical claims that we are asked to review involve “unsuitability (where a financial advisor makes investment recommendations that are inconsistent with a customer’s investment objectives), claims for “churning” (where a broker enters into an excessive number of trades for the purpose of generating commissions), claims involving illiquid investments such as private placements (I.e., real estate investment trusts, limited partnerships, equipment leasing and oil and gas drilling programs) as well as claims for violations of state securities laws, which often provide investors remedies like attorney’s fees and interest, if they are successful on the claim.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.