Finra bars former MML broker for refusing on-record testimony

Self-regulator was investigating Brian Travers' outside business and private securities transactions.

The Financial Industry Regulatory Authority has barred Brian Michael Travers, a former Long Island, N.Y.-based broker with MML Investors Services, for refusing to appear for on-the-record testimony in connection with a Finra investigation.

In November, Finra staff sent a request to Mr. Travers for such testimony. He acknowledged that he received Finra’s request and said he would not appear for on-the-record testimony at any time.

Finra wanted to question Mr. Travers in connection with an investigation into, among other things, potential undisclosed outside business activities and private securities transactions while he was associated with MML, which terminated his registrations last April.

Mr. Travers began his financial career in 2004 at Metropolitan Life, and worked at several firms before joining MML in 2013.

This is the latest in a string of actions where Finra has barred brokers for no-shows or incomplete information.

Earlier this week Finra barred former Next Financial broker JoeAnn Walker for not producing the complete documentation it had requested on an inquiry of possible unsuitable sales of variable annuities by Ms. Walker.

Last month Finra barred former Raymond James bank employee Edward M. Zadworny for failing to comply with an information request about his alleged outside annuity sales transactions, over which Raymond James terminated him in November 2016.