BRYON EDWIN MARTINSEN (BRYON E MARTINSEN) was registered as a broker with CENTAURUS FINANCIAL INC of Kings Park, New York from 10/07/1999 - 09/16/2022. Martinsen is currently not registered with any firm.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, BRYON E MARTINSEN has 35 years of experience in the securities industry and was listed with 3 firms. Martinsen has 22 disclosures on his FINRA CRD report. Of the 22 disclosures, one disclosure is a “Judgment / Lien” filed in 2009, one is an “Employment Separation After Allegations,” filed in 1999 discharging him from AXA ADVISORS, INC. following the allegations of “MARTINSEN WAS INVOLVED IN OUTSIDE BUSINESS ACTIVITIES WHICH HE HAD PREVIOUSLY BEEN ADVISED TO CEASE AND DESIST,” and there is one “Regulatory” disclosure dated 8/19/2022.
According to the BrokerCheck report, BRYON E MARTINSEN was fined $10,000.00 and suspended for 15 months by FINRA. The FINRA allegations were, “Without admitting or denying the findings, Martinsen consented to the sanctions and to the entry of findings that he participated in private securities transactions by facilitating the sale of approximately $1,100,000 in alternative investments without providing prior written notice to his member firm. The findings stated that Martinsen participated in these transactions by introducing firm customers who wanted to sell their illiquid alternative investments to firm customers who wanted to buy alternative investments, or by Martinsen buying his customers' alternative investments himself. Martinsen recommended the sales prices for the transactions and assisted the customers with the documents needed to complete the transactions. Martinsen did not receive any commissions or other compensation for his participation in the private securities transactions. Martinsen's participation in the securities transactions was outside the regular course and scope of his employment with the firm, and Martinsen failed to provide prior written notice to the firm of the transactions or of his role in the transactions. Martinsen also falsely denied in three firm annual compliance questionnaires that he had participated in the private securities transactions. The findings also stated that Martinsen made at least 150 payments to certain firm customers, in single or in multiple related payments, totaling approximately $400,000, to compensate them for losses in connection with securities investments that Martinsen had previously recommended. Martinsen made the payments to customers by checks from his personal and business bank accounts. Martinsen did not notify the firm about the payments, nor did he receive prior written authorization from the firm for any of the payments. Martinsen also falsely denied in three annual firm compliance questionnaires that he had made payments to customers in connection with their investment losses.”
Also, on BRYON E MARTINSEN’s FINRA CRD report there are 19 “Customer Dispute” disclosures. The significance of BRYON E MARTINSEN’s 19 “Customer Dispute” disclosures is underscored in FINRA NOTICE to MEMBERS 03-49. FINRA conducted a review of the CRD’s of all registered representatives, only .41% had been the subject of 3 or more customer complaints. In other words, BRYON E MARTINSEN’s customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints.
Some examples of the 19 complaints are as follows:
On 1/3/2024 a dispute was filed against BRYON E MARTINSEN alleging, “The customers allege that the Registered Representative failed to properly invest Claimants' money in accordance with their goals but instead chose to invest the majority of Claimants' money in high-risk, illiquid, non-traded REITs. No specific dates for the alleged activity were identified in the Statement of Claim.” The settlement amount was $350,000.00.
A dispute filed on 10/16/2020 against BRYON E MARTINSEN settled for $750,000.00, following the allegations of, “During the period November 2007 through October 2020, the customers allege that the Registered Representative invested their accounts in unsuitable, high-risk, illiquid investments.”
On 4/13/2020 a dispute filed against Martinsen settled for $985,000.00. The allegations were, “During the period 2013 through April 2020, the customers allege that the Registered Representative misrepresented and concentrated the claimants account(s) in unsuitable investments.”
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