- July 14, 2019
- CV Brokerage
Brenda Ann Smith was a Financial Advisor at CV Brokerage in West Conshohocken, PA. Brenda Smith has been in the securities industry since 2006 and previously worked at MCG Securities, Cretus Securities, DSRM Brokerage, Drexel Hamilton and Kildare Capital.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in June 2019, Brenda Smith “volunatirly resigned” from CV Brokerage for “non-compliance with FINRA Rules 8210 and 2010 in that Ms. Smith failed to provide documents and information requested in connection with a FINRA investigation into potential misstatements about the financial performance of an investment fund that were made during the course of private securities transactions in which Ms. Smith participated.”
In connection with those allegations, FINRA initiated an investigation, which resulted in a sanction, barring Brenda Smith from the securities industry for failing to participate in the investigation.
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2017052325901%20Brenda%20Smith%20CRD%204348518%20AWC%20va.pdf.
In addition, Brenda Smith is the subject of a pending customer complaint alleging “Fraud, Breach of fiduciary duty, breach of contract, unlawful conversion, violation of section 5104 of Pennsylvania uniform voidable transactin act and permanent injuctive relief. The complaint alleges $3,341,500 in damages.
For a copy of Brenda Smith’s CRD, click https://brokercheck.finra.org/individual/summary/4348518#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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