The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Brian Radoo. Brian Radoo was a New York based securities broker. He worked in the securities industry for twenty-four years. During his career, he was registered with five different securities firms.
His Registrations
- Chemical Investment Services (1994-1996)
- Chase Investment Services (1996-2003, 2006-2008)
- HSBC Brokerage Inc. (2003-2006)
- Citicorp Investment Services (2003-2004)
- Next Financial Group (2008-2019)
The Allegations
According to his publicly available FINRA BrokerCheck report, Brian Radoo was discharged from his position at Next Financial Group. This followed allegations that he engaged in unreported, unapproved outside business activities.
What Does This Mean?
Securities brokers are not allowed to engage in private business activities outside their member firm’s scope without authorization from their member firm. This is because these types of activities can often create significant conflicts of interest for securities brokers. Securities brokers might begin recommending private investments to member firm customers because they themselves have a financial stake in said investment. This can easily lead to brokers recommending these investments to customers that have no business investing in that particular security. Securities firms have an obligation to monitor their registered brokers and A) determine if the broker is engaging in any outside business activities and B) if the broker is engaging in outside activities, determine if an actual conflict of interest exists or if any investors might be harmed by the broker’s recommendations.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Brian Radoo, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.
