Brad Curtis Brooks & JTA Securities Fined $100,000

Soreide Law Group obtained the following information from FINRA’s Disciplinary Actions, August of 2021.
JTA Securities Management, Inc., dba Titan Securities (CRD® #131392, Addison, Texas) and Brad Curtis Brooks (CRD #1584633, Frisco, Texas)
According to the FINRA report, on June 29, 2021, JTA Securities Management, Inc., dba Titan Securities (the firm) and Brad Curtis Brooks (Brooks) appealed a National Adjudicatory Counsel (NAC) decision to the Securities and Exchange Commission (SEC). JTA Securities Management, Inc., dba Titan Securities was fined $100,000, jointly and severally, with Brad Curtis Brooks.
FINRA stated that Brad Curtis Brooks was suspended from association with any FINRA member in any principal and supervisory capacity for two years and required to re-qualify by examination as a principal. The NAC modified the findings and sanctions imposed by the Office of Hearing Officers (OHO).
According to FINRA, the sanctions were based on findings that JTA Securities Management, Inc., dba Titan Securities and Brooks allegedly failed to supervise a registered representative’s limited partnership activities as an outside business activity (OBA) and Brooks did not conduct a reasonable investigation of the limited partnership activities in light of red flags of which he was aware.
FINRA’s findings alleged that after Brooks learned about the limited partnership through a routine email review, he asked the representative to provide a written explanation of his involvement. The representative’s written response raised a number of red flags. Also, when the SEC raised concerns that the representative was engaged in OBAs in the limited partnership, Brooks allegedly did nothing to further investigate, but rather simply quoted the representative’s denials in his response to the SEC. The firm’s and Brooks’ alleged failures resulted in significant losses to investors.
FINRA’s findings also alleged that JTA Securities Management, Inc., dba Titan Securities and Brad Curtis Brooks failed to maintain and enforce adequate written supervisory procedures (WSPs) for the capture, review and retention of the firm’s securities-related emails. FINRA's findings also included that the firm and Brad Curtis Brooks willfully violated Section 10(b) of the Exchange Act, Rule 10b-9 thereunder and FINRA Rule 2010 by allegedly making false and misleading statements about another limited partnership in a private placement memorandum (PPM). FINRA alleged Brooks acted intentionally in contravention of the terms of the PPM so that the issuer could capture a business opportunity.
FINRA also alleged that the firm willfully violated Section 15(c) of the Exchange Act, Rule 15c2-4 thereunder and FINRA Rule 2010 by allegedly releasing this limited partnership’s investor funds from escrow prior to raising the minimum offering amount from bona fide investors.
The sanctions are not in effect pending review. (FINRA Case #2013035345701)
According to the decision, much of the alleged misconduct involves a registered representative’s involvement with a private placement of preferred units in a limited partnership, RBCP Preferred, LLC.
If you’ve suffered financial losses due to the actions of JTA Securities Management, Inc., dba Titan Securities, and/or Brad Curtis Brooks, the president/owner, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis, no fee to you if no recovery, and represents our clients nationwide before FINRA.