FINRA barred Brian James Egan from the securities industry after allegedly failing to disclose trading accounts he held beyond his employer, Independent Financial Group. According to a settlement notice accepted by FINRA, Egan did not disclose eighty-seven brokerage accounts he held with a separate firm from April 2010 to July 2015. He allegedly held trading authority over said accounts, which were owned by himself, family members, and clients of his accounting and tax preparation practice. FINRA further claims that Egan transferred funds and securities from particular customer accounts to his own.
Brian James Egan agreed to be barred from the industry in his settlement. He was registered with Independent Financial Group in Laguna Niguel, California between April 2010 and July 2015. He was terminated on July 28, 2015 for allegedly failing to disclose the brokerage accounts he held away form the firm, violating the firm’s policy.
FINRA claims Egan made misrepresentations in compliance forms he submitted to Independent Financial Group and that he additionally failed to respond to a substantial number of the regulatory authority’s requests for information, while falsely claiming that he did not maintain trading authority over the accounts at the other firm.
According to FINRA’s BrokerCheck, Egan had previously worked at AFA Financial Group in Calabasas, California, from December 2004 to April 2010. He was registered with H.D. Vest Investment Services in Irving, Texas from September 2002 before moving to AFA Financial.If you or someone you know has lost money as a result of an investment or Ponzi scheme, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.