Brian Rando, Formerly of Next Financial Group, Barred by FINRA After Refusing to Provide Information

Rando was being investigated by FINRA for possible engagement in an undisclosed outside business activity.

Brian Rando (CRD#: 2558458) was registered as a broker with Union Capital Company in Tucson, AZ from March 2020 until May 2020. Previously, Rando was registered as a broker with Next Financial Group in North Woodmere, NY, from May 2008 until December 2019. 

Rando has nine disclosures on his BrokerCheck report. Three customer disputes filed against Rando were denied.

January 2019 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: Without admitting or denying the findings, Rando consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA in connection with an investigation into whether he engaged in an undisclosed outside business activity. The findings stated that Radoo acknowledged that he received FINRA’s request and will not produce the requested information or documents at any time.
• Resolution: Acceptance, Waiver & Consent (AWC)
• Sanctions: Bar
• Registration Capacities Affected: All Capacities
• Duration: Indefinite
• Start Date: 12/18/2020

September 2019 Customer Dispute

• Status: Pending
• Allegations: Claimant’s former Registered Representative Brian Radoo offered them an investment in an unapproved outside business activity that involved a “cannabis cultivation” company. Claimant states that the firm failed to supervise the representative’s outside business activity. [REDACTED] alleged investment was in 2018 and [REDACTED] was in 2017.
• Damage Amount Requested: $5,000.00

December 2019 Employment Separation After Allegations

• Firm Name: Next Financial Group
• Termination Type: Discharged
• Allegations: Registered individual participated in unreported, unapproved outside business activities. 

April 2008 Customer Dispute

• Status: Settled
• Allegations: The client verbally complained that the UIT purchased was unsuitable.
• Damage Amount Requested: $15,981.36
• Broker Comment: Based on client investment objectives, time horizon, liquidity needs, current income, risk tolerance, and tax-bracket, approx 2 years ago I submit that the investment recommendation was appropriate. The UIT in question was on Chase’s “recommended list”. This settlement was made at the discretion of Chase and registered representative admits no wrong. 

February 2008 Employment Separation After Allegations

• Firm Name: Chase Investment Services Corporation
• Termination Type: Discharged
• Allegations: Registered rep alleged falsified the location where an annuity document was signed.
• Broker Comment: After FINRA investigation was completed regarding Chase’s allegation, registered representative was issued a “letter of caution” to be more careful going forward. 

October 2005 Customer Dispute

• Status: Settled
• Allegations: Customer claims that he was looking for a particular interest rate, close to 3% for a short-term liquid investment, and was not sold a product suitable to his objectives. 
• Damage Amount Requested: $13,178.00
• Settlement Amount: $13,178.00
• Broker Comment: The client’s investment in the diversified income fund at issue was both suitable and approved by the client (whose continued ownership of the fund for at least 7 months after making his “complaint” indicates satisfaction, knowledge and approval of the investment). The matter was settled at the discretion of HSBC, and I admit no liability or wrongdoing. 

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Brian Rando. 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.