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George McCaffrey: Englewood, Colorado Financial Advisor Suspended
A disciplinary action taken by the Financial Industry Regulatory Authority against former Englewood, Colorado broker and investment advisor George McCaffrey (CRD# 847377) suspended him over allegations he participated in undisclosed private securities transactions involving nine investors. A former representative of NTB Financial, McCaffrey was suspended for 18 months and fined $15,000.
According to a Letter of Acceptance, Waiver and Consent (No. 2017056104701) dated September 2018, George McCaffrey was registered with NTB Financial Corporation when, between January 2016 and August 2017, he introduced nine investors, including a customer of his member firm, to representatives of a company involved in the building and leasing of greenhouses, such that the investors “could invest in the company.” McCaffrey additionally engaged in the review and revision of materials concerning the investments, forwarded related materials to the customers in question, and engaged in communications with them about their investments, according to FINRA. The findings go on to state that these investors purchased a cumulative $1,775,000 in the company’s promissory notes and in one of its affiliate’s preferred stock, over a total of 22 transactions. These transactions were also connected to commission payments of $124,250 by the company to “an entity controlled by McCaffrey’s wife,” according to FINRA, which notes that the transactions were not completed through his member firm, which he did not provide with prior written notification that he would be participating in the transactions. FINRA also states that he “incorrectly indicated” on a firm compliance questionnaire that he had not engaged in any such private securities transactions. FINRA found these actions to constitute violations of FINRA Rules 3280 and 2010. As a result of the foregoing alleged conduct, McCaffrey was suspended from associating with any FINRA member firm in any capacity for 18 months. He was also ordered to pay a fine of $15,000 and disgorge $124,250 in commission payments.
George McCaffrey is currently not registered as a broker or investment advisor. His employment history includes NTB Financial Corporation in Englewood, Colorado; JW Gant & Associates; First Eastern Securities Corporation; EJ Pittock & Company; Securities Clearing of Colorado; SW Devanney & Company; Peavey Securities; and SFC Equities. He currently holds zero state licenses and has passed four securities industry qualification examinations.