The Financial Industry Regulatory Authority (“FINRA”) announced that it barred CV Brokerage Inc. financial and operations principal and securities broker Brenda Smith (CRD#: 4348518, West Conshohocken, Pennsylvania). Apparently, Smith, whom CV  Brokerage Inc. disaffiliated with June 14, 2019, executed a Letter of Acceptance, Wavier and Consent (the “AWC”) #: 2017052325901 that day, which FINRA accepted July 2, 2019. The AWC confirms that Smith violated FINRA Rules because she did not provide information to FINRA when under investigation. Here’s more on the disciplinary action.

Brenda Smith Refuses To Provide FINRA With Documents And Information About Private Securities Transactions

FINRA reports that on May 23, 2019, it asked Brenda Smith for documents and information. Apparently, FINRA made this request in furtherance of its investigation into possible misstatements about an investment fund. FINRA suspected Smith made have misrepresented financial performance on investment transactions that the securities broker privately arranged in connection with that investment fund. It remains to be seen whether investors suffered losses because of this.

Notably, Brenda Smith’s attorney told FINRA that Smith would not give FINRA documents or information. Indeed, Smith confirmed her refusal to provide documents and information by executing the AWC. Because of this, FINRA’s sanction of Smith – a bar from associating with any FINRA member firm in any capacity – all but ended her career as a securities representative.

Brenda Smith’s last employer was CV Brokerage Inc., who allowed her to voluntarily resign in connection with her failure to comply with FINRA rules. Smith also ran her own investment advisory firm, BA Smith & Associates, LLC, between January 1995 and the present.

CV Brokerage Inc. Client Files FINRA Arbitration Suggesting Smith Sold Bad Investments

In addition to the AWC, FINRA reports that a client of CV Brokerage Inc. filed FINRA Arbitration #: 18-03955 on December 11, 2018. Mainly, the client stated that CV or Brenda Smith breached a fiduciary duty. This means that the firm or Smith supposedly failed to put the client’s interest first. Not only that, but the client alleged a breach of contract. Additionally, CV or Smith allegedly violated PA’s Uniform Voidable Transaction Act. Plus, the client asserted a claim for “unlawful conversion,” indicating the client’s assets were potentially stolen. Although Smith denies the client’s allegations, this matter is still ongoing. Notably, the client demanded $3,341,500 in damages in this matter.

Brenda Smith Sell You Misrepresented Investments?

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Experience losses by investing in a fund through securities broker Brenda Smith? Contact Soreide Law Group at (888) 760-6552. Speak with experienced legal counsel about a possible recovery of your investment losses. Notably, Soreide Law Group has recovered millions of dollars for investors who have suffered losses due to broker and brokerage firm misconduct. The firm represents clients on a contingency fee basis and advances all costs.