BRODY R BRAY Suspended and Sanctioned by FINRA

According to FINRA’s BrokerCheck, on June 14, 2023, BRODY R BRAY, was suspended by FINRA for six months, from 6/20/2023 to 12/19/2023, and sanctioned $10,000.00. Bray was formerly with AMERICAN PORTFOLIOS FINANCIAL SERVICE, INC. of  Atlanta, GA.

Without admitting or denying FINRA’s findings, BRODY R BRAY consented to the sanctions and to the entry of findings that he allegedly engaged in OBAs (Outside Business Activities) without providing prior written notice to his member firm.

FINRA’s findings stated that BRODY R BRAY became an independent contractor for a company that provides subscription-based, investment content for a fee. FINRA alleged Bray received $77,500 in compensation from the company for his services, which included providing the company with investment and trade-related analysis and communications.

According to FINRA’s report, BRODY R BRAY, allegedly did not provide his firm prior written notice of his outside activities with the company, or two additional limited liability companies he formed. Allegedly, Bray also conducted his company-related activities under a pseudonym and falsely attested on a firm annual compliance questionnaire that he had not engaged in any undisclosed OBAs.

FINRA’s findings also stated that the investment-related content BRODY R BRAY provided to the company was sent to its subscribers. These investment-related communications with the public, according to FINRA, allegedly violated the content standards of FINRA Rule 2210 because they contained exaggerated, unwarranted, promissory, and/or misleading statements or claims.

BrokerCheck states that BRODY R BRAY has been in the securities industry for 14 years and has been listed with 4 firms. BRODY R BRAY was registered both as a broker and as an investment advisor.  Bray has 3 disclosures on his FINRA CRD report.  One is the "Regulatory" suspending him and the other 2 are “Customer Disputes.” One of the disputes was closed with no action and the other was settled in 2017 following allegations of, “Claimants allege representative made material misrepresentations and omissions and sold unsuitable and fraudulent investments.” The settlement amount was $100,000.00. The Respondents deny all allegations.

Bray was most recently listed with:

10/28/2019 - 08/18/2021 AMERICAN PORTFOLIOS FINANCIAL SERVICES, INC. of  Atlanta, GA

06/14/2010 - 10/28/2019 THE STRATEGIC FINANCIAL ALLIANCE, INC., of Atlanta, GA

If you’ve experienced financial losses due to the actions or recommendations of the former AMERICAN PORTFOLIOS FINANCIAL SERVICES, INC. of Atlanta, GA, broker/financial advisor, BRODY R BRAY, 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 represents our clients nationally before FINRA on a contingency fee basis.