FINRA Bars Brian M. Travers for Refusing on-the-record Testimony
According to the Financial Industry Regulatory Authority (FINRA), on December 13, 2017, the regulator issued an AWC in which Brian M. Travers (CRD #4767891, Kings Park, New York) was barred from association with any FINRA member in all capacities.
Without admitting or denying the findings Travers consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony in connection with an investigation into, among other things, potential undisclosed outside business activities and private securities transactions while he was associated with his member firm.
According to his FINRA BrokerCheck Report, Travers was registered with MML Investor Services in Melville, New York from November 2013 until April 2017 when he was “terminated in connection with undisclosed outside activity.”
For FINRA’s full findings see FINRA Case #2016051017101.
Failure to Supervise
Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.
When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
Are you concerned about investments you made with Brian M. Travers? If so, the attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available, is being provided by The White Law Group.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information, please visit our website, www.whitesecuritieslaw.com.
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