Maguire is accused of using material, nonpublic information as a basis for making trades.
Brian Maguire (CRD: 5011014) was registered as a broker with Goldman Sachs from 2010 until 2020. Previously, Maguire was registered as a broker with AllianceBernstein Investments, Barclays Capital, and Lehman Brothers.
Maguire has two disclosures on his BrokerCheck report.
April 2021 Regulatory Judgment
- Status: Final
- Initiated By: FINRA
- Allegations: Without admitting or denying the findings, Maguire consented to the sanction and to the entry of findings that he willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder and violated FINRA Rules 2020 and 2010 by trading on the basis of material nonpublic information. The findings stated that Maguire learned his fellow research analyst was planning to upgrade the research ratings of two companies that analyst covered. Maguire purchased the securities of those companies while in possession of that material nonpublic information in two accounts. One account was a family member’s individual account over which he had discretion and control (the individual account). The other account was a trust account over which he had discretion and control and in which a member of his household had a financial interest (the trust account). The findings also stated that Maguire executed other trades that also violated several provisions of the FINRA rule which addresses research analyst conflicts of interest. Specifically, Maguire traded in securities of issuers he covered in contravention of his member firm’s written prohibition, traded in a manner inconsistent with his current recommendations, and published research without disclosing that a member of his household had a financial interest in the securities of the issuer and the nature of that interest. The findings also included that during FINRA’s investigation of this matter, Maguire lied to FINRA regarding his trading history. Maguire testified that, prior to a specified date, he never placed trades in the trust account when, in fact, he had placed trades in that account prior to the specified date. Maguire likewise testified that, prior to the specified date, he never placed trades in the securities of issuers that he or his business unit covered when, in fact, he had effected trades in the securities of issuers he covered and trades in the securities of issuers covered by his business unit prior to the specified date.
- Resolution: Acceptance, Waiver & Consent (AWC)
- Sanctions: Bar
- Registration Capacities Affected: All Capacities
- Duration: Indefinite
- Start Date: 4/20/2021
October 2020 Employment Separation After Allegations
- Firm Name: Goldman Sachs & Co. LLC
- Termination Type: Discharged
- Allegations: Allegations relating to trades placed by the representative in an undisclosed account of a related individual and the possible use of confidential firm business information in connection with certain of those trades.
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The Sonn Law Group is currently investigating allegations surrounding Brian Maguire. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.