Securities Arbitration Lawyer Blog
FINRA has barred former LPL stockbroker Bradley Allen Goodbred from the securities industry for refusing to respond to an information request issued pursuant to FINRA Rule 8210.
On February 1, 2021, LPL terminated Goodbred’s registration by filing a Form U5, stating that Goodbred had been terminated because he failed to disclose and obtain the firms’ approval to act as power of attorney for a customer, in violation of firm policy. LPL stated that as a power of attorney, Mr. Goodbred requested and facilitated distributions of funds from his customer’s outside advisory accounts and deposited the funds into the customer’s bank account. He then had the customer provide him with personal checks totaling $430,000. The checks were made payable to a real estate company representative owned and operated as an outside business activity. Goodbred and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on February 16, 2021.
FINRA indicated that the matter originated from a tip received by FINRA staff on January 13, 2021.