Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/adviser Bradley Goodbred (CRD # 3184210) was recently barred from the securities industry by FINRA’s Department of Enforcement. The sanction occurred after he failed to provide information to FINRA during the course of an investigation into his handling of a customer’s account while acting as the customer’s power of attorney.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Goodbred.
Registration Background for Bradley Goodbred
Mr. Goodbred first became registered in the securities industry in 1999. He was most recently registered with Roselle, IL based LPL Financial LLC (CRD # 6413) from October 2009 to February 2021. His prior registrations include Banc One Securities Corporation (CRD # 16999) from June 1999 to November 2000.
FINRA’s Allegations Against Bradley Goodbred
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated February 16, 2021, Mr. Goodbred consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “On February 1, 2021, LPL terminated [Mr.] Goodbred’s registration by filing a Form U5, stating that [Mr.] Goodbred had been terminated because he “[f]ailed to disclose and obtain Firm approval to act as power of attorney for customer, in violation of Firm policy”;
- Mr. Goodbred ”[u]tilized [a] power of attorney to request and facilitate distributions of funds from customer’s outside advisory accounts”;
- Mr. Goodbred “deposit[ed] customer funds into customer’s bank account, and then had customer provide representative with personal checks totaling $430,000 made payable to a real estate company representative owned and operated as an outside business activity”;
- “On January 19, 2021, FINRA staff sent [Mr.] Goodbred a request for documents and information pursuant to Rule 8210”;
- “As stated during his counsel’s phone call with FINRA on January 25, 2021 and email to FINRA on the same date, and by this agreement, [Mr. Goodbred] acknowledges that he received FINRA’s request and will not produce the information or documents requested”; and
- By virtue of the above actions, Mr. Goodbred violated FINRA Rule 8210, regarding providing information requested by FINRA in an investigation; and FINRA Rule 2010 regarding standards of commercial honor and principles of trade.
FINRA Sanctions Bradley Goodbred
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s February 16, 2021 AWC also indicates that Mr. Goodbred consented to the following sanction(s):
- A bar from associating with any FINRA member in all capacities.
Bradley Goodbred Does Not Have A History of Customer Complaints
In addition to the findings of FINRA’s Department of Enforcement, FINRA BrokerCheck fo Mr. Goodbred reveals that he does not have a history of customer complaints and/or customer initiated arbitrations.
If you or someone you know has or had a brokerage account with Bradley Goodbred and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.
