Close Menu
Free Consultation: 888-976-6111

Lynwood Broker Brian Lockett Suspended: Private Placement

Independent Financial Group broker/adviser Brian Lockett (CRD# 4573162) was recently sanctioned by the Financial Industry Regulatory Authority in connection to allegations he engaged in a private securities transaction. A representative at the firm’s office in Lynwood, Washington, Lockett was issued a 45-day suspension and a fine of $5,000. 

According to a Letter of Acceptance, Waiver and Consent (No. 2016050847301) dated November 2019, Brian Lockett was associated with Geneos Wealth Management as a General Securities Representative when, in July 2012, he participated in an investment by one of his customers of $50,000 in a private placement offering. FINRA states that his participation involved the introduction of the customer to the transaction; a summarization of why he liked the investment in question; a meeting with the customer to review and sign paperwork; and “causing the paperwork to be submitted.” According to FINRA, he received no payment for his involvement in the transaction. However, FINRA states, he did not notify the firm in writing and in advance about the transaction or his involvement in it. He also allegedly “attempted to conceal his role in the transaction” by recommending to the customer that they communicate with him about the transaction using Lockett’s personal email address. FINRA states that when the customer later made a complaint with the firm, the firm “entered into a settlement to resolve the complaint. FINRA states that this conduct constituted violations of NASD Rule 3040(b) and FINRA Rule 2010. As a result of the foregoing alleged conduct, he was issued a 45-day suspension and a fine of $5,000.

Brian Lockett has been registered as a broker and investment adviser with Independent Financial Group in Lynwood, Washington since 2013. His previous registrations include Geneos Wealth Management and Commonwealth Financial Network. He has passed three securities industry qualifying examinations and his BrokerCheck report currently lists 27 state securities licenses. (Information current as of May 6, 2020.)

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • John Yin: Ex-Cetera Advisor Faces $500k-$1mm Complaint

    City of Industry, California financial advisor John Yin (CRD# 3249933) allegedly recommended unsuitable investments, according to a recent investor complaint....

    Read More
  • Devin Garofalo: $216K Complaint Against Colonial River Advisor

    Midlothian, Virginia financial advisor Devin Garofalo (CRD# 4853435) recently received an investor complaint alleging that his conduct resulted in six-figure...

    Read More
  • Derek Martin: 56 Capital Denies $300K Complaint Against Advisor

    Colorado Springs financial advisor Derek Martin (CRD# 6059805) recently received an investor complaint alleging that his conduct resulted in losses....

    Read More
  • Ran Regev: $150K Complaint Against Regev Financial Advisor

    Fort Lauderdale financial advisor Ran Regev (CRD# 5469190) allegedly made unsuitable trades, according to a recent six-figure investor complaint. Financial...

    Read More
  • Previous
  • Next