George McCaffrey: Ex-NTB Rep Barred over Private Transactions

Ex-Englewood stockbroker George McCaffrey (CRD# 847377) was recently sanctioned by the Financial Industry Regulatory Authority and barred from acting as a broker. The former NTB Financial Corporation representative has also received an investor dispute alleging his actions caused $1.7 million in damages.

According to a Letter of Acceptance, Waiver and Consent (No. 2019064024001) released by FINRA in June 2021, George McCaffrey was sanctioned by FINRA in 2018 over findings he participated in 22 undisclosed private securities transactions involving the purchase by nine customers of $1,775,000 in securities. The AWC Letter states that as part of the regulator’s investigation into his conduct, Mr. McCaffrey did not identify any other private securities transactions he’d participated in besides the 22 detailed in the sanction. In spite of this, FINRA states, he engaged in private securities transactions involving the purchase by two individuals of $170,000 of securities issued by the entity at issue in the 2018 sanction. FINRA’s findings state that the individuals were not customers of NTB Financial Corporation and that he did not seek the firm’s authorization for the transactions. He also allegedly “McCaffrey participated in another $100,000 private securities transaction with an individual, who was not a NTB customer, involving a separate, but related company during his association with NTB,” for which he did not seek or receive the firm’s approval. FINRA’s findings state that these activities constituted violations of FINRA Rules 8210, 2010, and 3280. As such, it barred him from associating with any FINRA member in any capacity.

George McCaffrey’s BrokerCheck report discloses several recent pending investor complaints against him. The most recent, filed in September 2021, alleges that as a representative of NTB Financial Corporation, he made false representations regarding a private company to which the customers lent money, and which later defaulted. The customers allege damages of $1,702,000 in the pending complaint. pending complaint filed in April 2021 alleges that as a representative of NTB Financial, he solicited private securities transactions in an unregistered company; the claimants allege damages of $220,000. Finally, a pending complaint filed in 2019 alleges that Mr. McCaffrey recommended the claimants lend money to a private company and that NTB Financial has no record of the recommendation; the claimants allege damages of $290,000. 

According to the Financial Industry Regulatory Authority, George McCaffrey holds 37 years of securities industry experience. His past registrations include NTB Financial Corporation (Englewood, Colorado), JW Gant & Associates, First Eastern Securities Corporation, JW Gant & Associates, EJ Pittock & Company, Securities Clearing of Colorado, SW Devanney & Company, Peavey Securities, and SFC Equities. He presently holds no state licenses. (Information accessed on January 10, 2022.)

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