FINRA Fines Brody Bray For Outside Business

Soreide Law Group is actively investigating potential claims on behalf of investors who may have experienced financial losses due to the actions of securities broker Brody Ralph Bray (also known as Brody Bray) (CRD: 4727529, Atlanta, Georgia). Particularly, Bray has had regulatory actions brought against him by FINRA. Additionally, Bray has faced client complaints. In those complaints, investors alleged material misrepresentations, unsuitability, and unsatisfactory account performance during his tenures at American Portfolios Financial Services, Inc., and The Strategic Financial Alliance, Inc.

FINRA Sanctioned Bray For OBAs

Evidently, on June 14, 2023, FINRA issued Case: 2021072323701. Specifically, Bray was subject to $10,000 in civil and administrative penalties, as well as a suspension affecting all capacities for six months, starting from June 20, 2023, and ending on December 19, 2023. Notably, FINRA alleged that Bray engaged in outside business activities (OBAs) without providing prior written notice to his employing firm, American Portfolios Financial Services. Moreover, Bray purportedly operated under a pseudonym and provided investment content that violated FINRA Rule 2210 due to exaggerated and misleading statements. Additionally, Bray received $77,500 from the company for his services, which he allegedly did not disclose to his employing firm.

Brody Bray Disclosed Material Misrepresentation And Unsuitability Allegations By The Strategic Financial Alliance, Inc. Client

Also, a client of The Strategic Financial Alliance, Inc. And FSC Securities Corporation contested Brody Bray's sales practices by filing FINRA Arbitration: 17-03331. Allegedly, Bray made material misrepresentations and sold unsuitable interests in DPPs and LPs. It appears that Bray caused the client to sustain damages. Therefore, the matter was settled on December 27, 2018, with the client receiving compensation in the amount of $100,000.

The Strategic Financial Alliance, Inc. Investor Accused Bray Of Unsatisfactory Account Performance

Additionally, on August 12, 2013, a The Strategic Financial Alliance, Inc. client filed a complaint about Brody Bray. Specifically, the client was not happy with the performance in his account, which involved futures, oil and gas investments, and options products. Because of this, the client supposedly sustained losses exceeding $5,000. The complaint was closed on August 28, 2013.

Have You Incurred Losses Due To Brody Bray?

Did you experience damages because of Brody Bray? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery. Soreide Law Group has recovered money for investors throughout the United States, works on a contingency fee basis, and advances all costs. Bray and brokerage firms he worked for deny accusations of sales practice violations.