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Scott Brander: Ex-Buckman Advisor Settles SEC Charges
The Securities and Exchange Commission recently sanctioned former Buckman Advisory Group representative Scott Brander (CRD# 2300933) in connection with an allegedly fraudulent scheme. Financial Industry Regulatory Authority records show that Mr. Brander was most recently registered in Little Silver, New Jersey.
According to a press release published in September 2022, the SEC brought charges alleging Mr. Brander participated in a cherry-picking scheme, defined as “the fraudulent practice in which an adviser preferentially allocates profitable trades to the adviser’s personal account at the expense of the adviser’s client accounts.” It also brought charges against his former member firm, Buckman Advisory Group. The press release describes the SEC’s allegations that Mr. Brander “often traded highly leveraged securities and disproportionately allocated unprofitable trades in these securities to his clients,” neglecting to perform any suitability analysis or disclose the risks to his clients before executing these allocations.
As a result of this conduct, the SEC alleged, he “improperly received more than $800,000 of ill-gotten gains.” He consented to an injunction against further violations of relevant provisions of securities law as well as an order to pay “disgorgement of $812,876, prejudgment interest of $169,089.83, and a civil penalty of $200,000.” According to his FINRA-maintained BrokerCheck report, he was also indefinitely barred from “association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO.”
According to the Financial Industry Regulatory Authority, Scott Brander holds 27 years of securities industry experience. Though not currently registered with any state or firm, he was most recently registered with Buckman Buckman & Reid in Little Silver, New Jersey from 2003 until 2021. His registration history includes tenures at Kirlin Securities, MS Farrell & Company, RD White & Company, and Smith Barney. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. More information about his history in the securities industry is available via his BrokerCheck report. (Information current as of December 7, 2022.)
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