Joseph Todd Fired from Centaurus Financial

Joseph Todd (CRD #: 1830390) was fired from his firm, according to his BrokerCheck record, accessed on August 5, 2022. Read on to learn more about Joseph Todd’s conduct as a broker.

Discharge from Centaurus Financial

On July 21, 2022, Centaurus Financial fired Joseph Todd during an ongoing investigation allegedly concerning whether he violated firm policy as well as industry rules regarding selling away. The firm is also investigating his receipt of clients’ funds.

FINRA Rule 3280

FINRA Rule 3280 requires brokers to disclose any private securities transactions they participate in, including any compensation they may receive. Selling away, the practice of selling securities not offered by a broker’s firm violates this rule.

Investor Dispute

On May 27, 2022, multiple investors alleged that Joseph Todd misrepresented illiquid, high-risk, and unsuitable investments and engaged in selling away from his firm from 2020 through the date of filing. The investors seek $100,000 in this pending dispute.

FINRA Rules 2111 and 2020

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must use the information in an investor’s profile, such as their age, risk tolerance, and tax status when making recommendations.

Misrepresentation of investments violates FINRA Rule 2020, which prohibits the use of manipulative, deceptive, and otherwise unethical tactics to influence investors’ decisions.

Background Information

Joseph Todd has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

He has also worked for the following firms:

• Centaurus Financial (CRD#:30833)
• Investors Capital Corporation (CRD#:30613)
• Edward Jones (CRD#:250)
• Invest Financial Corporation (CRD#:12984)
• Investors Capital Corporation (CRD#:30613)
• IFG Network Securities (CRD#:19948)
• Raymond James & Associates (CRD#:705)

Kurta Law Can Help

If you worked with Joseph Todd and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want 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.