Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
Brad Latting: FINRA Bars Former State Farm Broker
A disciplinary action taken by the Financial Industry Regulatory Authority against former Lawton, Oklahoma broker Brad Latting (CRD# 4850825) barred him over findings he refused to provide FINRA with testimony relating to allegations he converted and/or commingled the funds of an elderly customer. A former representative of State Farm VP Management Corporation, Latting was indefinitely barred from acting as a broker or otherwise associating with a broker-dealer firm as a result of these findings.
According to a Letter of Acceptance, Waiver, and Consent (No. 2018057319702) signed in April 2019, Brad Latting refused to appear and provide on-the-record testimony to FINRA, in March 2019, as part of the regulator’s investigation into allegations “concerning Latting’s commingling and/or conversion of funds belonging to his elderly client while serving as her power attorney.” FINRA’s findings state that this conduct constituted violations of FINRA Rules 8210 and 2010.
FINRA’s findings note specifically that Brad Latting was associated with State Farm VP Management Corporation from April 2004 until February 2018, when the firm “reported [his] termination for cause.” Following this termination, FINRA launched an investigation into “allegations that Latting commingled and/or converted funds” held by a senior citizen customer of the firm’s “affiliated banking and insurance entities.” FINRA’s findings also state that the regulator was investigating allegations Latting did not disclose that he was serving as the client’s power-of-attorney. The regulator sent him a request on February 14, 2019 to appear for on-the-record testimony on March 14, 2019, noting that if he failed to comply with the request, his refusal to appear for testimony would constitute a violation of FINRA Rule 8210. FINRA’s findings go on to state that Latting informed FINRA in a March 4, 2019 email that he would not appear for on the record testimony in compliance with the request. FINRA consequently barred him from association with any FINRA member in any capacity.
Brad Latting’s disclosure history lists one earlier sanction: in June 2018, the Oklahoma Insurance Commissioner revoked his insurance license “for unethical practices in the insurance industry.”
Brad Latting is currently not registered as a broker. His employment history includes State Farm VP Management Corporation in Lawton, Oklahoma. He currently holds no state licenses and has passed three securities industry qualification examinations.