Purshe Kaplan, FINRA Investigate Brian Bogart For Involvement In Private Fund
Soreide Law Group is reviewing possible investor disputes against securities broker Brian Bogart (CRD#: 1186538, McLean, Virginia). Notably, Bogart’s Financial Industry Regulatory Authority (“FINRA”) BrokerCheck profile discloses two regulatory events, two bad employment breakups, and at least twelve client disputes. Here’s a brief summary of some of these disclosures which indicate that Bogart engaged in unauthorized transactions:
Purshe Kaplan Sterling Disaffiliates With Brian Bogart For Possibly Selling Away
Evidently, brokerage firm Purshe Kaplan Sterling Investments (aka “PKS Investments”) hired Brian Bogart in July 2017 but permitted him to resign in February 2019. Notably, Purshe Kaplan claimed that FINRA investigated Bogart’s activities relating to a private fund. It seems that FINRA opened an investigation into whether Bogart engaged in unauthorized private securities transactions (known as “selling away”). Specifically, FINRA Rule 3280, which governs private securities transactions, generally requires that a broker obtain permission from his or her employer before engaging in private securities transactions. It is possible that Bogart failed to disclose his involvement in a private fund to Purshe Kaplan. Evidently, Purshe Kaplan initiated its own investigation into Bogart after FINRA broached the issue. However, Bogart resigned before the brokerage firm concluded its investigation.
Prudential Clients Dispute Bogart’s Sales Practices
Previously, Bogart worked for Prudential Securities Incorporated. FINRA shows that a number of Prudential clients took issue with Brian Bogart’s sales practices. For example, Prudential clients filed NASD Arbitration Claim #: 03-02203. Mainly, the clients alleged that Bogart committed “gross mismanagement” of the clients’ accounts and made unauthorized transactions. Because of this, Prudential settled the matter through a $43,000 payment to the clients.
Evidently, a second Prudential client contested Brian Bogart’s sales practices through a formal complaint. Allegedly, Bogart made unsuitable and unauthorized transactions. It appears that Bogart failed to consider the client’s risk tolerance or objectives when trading mutual funds. For this reason, Prudential compensated the client to the tune of $45,000. Other clients who brought disputes alleged that Bogart gave bad investment advice and sold inappropriate investments. In fact, Prudential Securities Incorporated disaffiliated with Bogart for client complaints.
Did Brian Bogart Cause You To Suffer Investment Losses?
Lars Soreide Highest Ethical Standard Award 2018
Suffered losses due to Purshe Kaplan broker Brian Bogart? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers and brokerage firms.