FINRA Bars Brian Doherty
Brian Doherty (CRD #:2647950), a broker formerly registered with Whitaker Securities, registration has been revoked by the New Jersey Bureau of Securities following a FINRA bar, according to his BrokerCheck record, accessed on January 16, 2022.
FINRA Bar
According to the FINRA complaint Brian Doherty allegedly intentionally engaged in a fraudulent, prearranged trading scheme to enable his customer, an individual associated with a FINRA member firm, to evade that firm’s inventory policy. In the course of his actions, he allegedly caused another brokerage firm to lose approximately $55,773.
Brian Doherty and another individual allegedly used a code word to signal pre-arranged trades. They would “split the ticket” and execute multiple trades to conceal an allegedly fraudulent scheme and evade review by the other brokerage firm. The other individual would allegedly purchase securities from Brian Doherty and then sell his older position in the same securities to Doherty shortly afterward. This allegedly resulted in a loss for the individual’s firm. He allegedly violated FINRA Rule 2020 by omitting essential facts about his trading strategy.
Read here for more details regarding the FINRA Complaint.
FINRA Sanctions
Brian Doherty consented to a:
- FINRA bar
- $7,897.48 Penalty
- Restitution of $56,093.00, plus interest
Employment Termination Details
On August 17, 2015, Brian Doherty was fired from his position at BGC Financial L.P. following allegations that he participated in improperly prearranged intra-day transactions.
Background Information
Brian Doherty has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 62 – Corporate Securities Limited Representative Examination
- Series 72 – Government Securities Representative Examination
- Series 7 – General Securities Representative Examination
He has also worked with the following firms:
- LPS Capital (CRD#:155246)
- BGC Financial, L.P. (CRD#:19801)
- BGC Securities (CRD#:13681)
- Garban Corporates Gp (CRD#:2762)
- Tradition (Government Securities) (CRD#:28269)
Kurta Law Can Help
If you have worked with Brian Doherty and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.