FINRA suspended former Northwestern Mutual Investment Services, LLC associate, Bradley Thomas Badger, of Pleasanton, California and fined him $10,000 for participating in a currency trading and real estate business outside of the scope of his employment with Northwestern Mutual and without disclosing this activity to the firm.
According to FINRA's investigation, Badger's association with Northwestern Mutual was in the capacity of an Investment Company Shares and Variable Contract Representative and ran from August 2009 to November 2012, when he resigned from the firm. The findings allege that Badger participated in the outside business activity from August to November 2012 without providing prior written notice to Northwestern.
The findings state that Badger joined the currency and trading real estate business Denari Capital LLC as a member and manager, signing an operating agreement to that affect and subsequently opening a bank account for Denari in his capacity as manager along with two other Northwestern Mutual registered representatives who were not identified.
Investigators also found that Badger purchased a $300,000 interest in Denari in August of 2012 without providing prior written notice to Northwestern Mutual of this $300,000 investment.
For this violation of FINRA Rules 2010 and 3040, FINRA suspended Badger and fined him $10,000.
If you have invested with Bradley Thomas Badger, Northwestern Mutual, or with any other broker, financial advisor or representative whose participation in an unauthorized third party business activity outside of that person's association with a FINRA-member firm has produced a conflict of interest, selling away or other improper situation that was harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.