Ronald S Bright Fined and Suspended by FINRA

The Financial Industry Regulatory Authority (FINRA) has fined and suspended a former Edward Jones of Milwaukie, Oregon, advisor, Ronald Scott Bright (Ronald S Bright CRD#: 2702179) over allegedly not making changes to his clients’ accounts on the same days that he confirmed the planned changes with the clients, according to a recent article in Financial Advisor IQ. Bright was fined $5,000.00 and suspended for 15 business days, 3/7/2022 - 3/25/2022.
On February 1, 2022, without admitting or denying FINRA’s findings, Ronald S Bright consented to the sanctions and to the entry of findings that he allegedly exercised discretion without written authorization when executing transactions for client accounts in connection with switching certain of the clients’ assets between mutual fund families.
FINRA’s findings stated that Ronald S Bright made these transactions based on communications with his clients that occurred three or more days before he placed the trades. According to FINRA, Bright discussed the mutual fund switching strategy with the clients, he allegedly did not speak with the clients about the specific trades on the dates of the transactions. FINRA alleges, Bright’s member firm had not approved any of these accounts for discretionary trading.
The Financial Advisor IQ article stated that between December of 2019 and February of 2020, Bright allegedly executed 149 transactions in 58 customer accounts, without having prior written authorization.
According to FINRA’s BrokerCheck, Ronald S Bright, has been in the securities industry for 24 years and was listed with 3 firms. There are 3 disclosures on Bright’s FINRA CRD report.  One of those disclosures is an “Employment Separation after Allegations,” dated March 18, 2020.  Bright was discharged from Edward Jones following allegations of, “Registered representative admitted to not speaking with certain clients on the same day he made mutual fund exchanges in their accounts. Registered representative also did not meet obligations under the firm's compliance policies.”
Ronald S Bright currently registered with the following firm since 4/14/2020:
AMERIPRISE FINANCIAL SERVICES, LLC
6363 1000 SW Broadway Ste 2200
Portland, OR 97205-3074
If you have experienced financial losses due to the actions or recommendations of the broker/financial advisor, Ronald S Bright formerly of Edward Jones of Milwaukie, Oregon, and currently with Ameriprise Financial of Portland, Oregon, 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 works on a contingency fee basis, no fee to you if no recovery, and represents our clients nationwide before FINRA.