Finra bars broker involved with Dawn Bennett

Bradley Mascho already charged by SEC with abetting fraud.
JAN 16, 2018

The Financial Industry Regulatory Authority Inc. has barred Bradley C. Mascho for failing to appear at a hearing looking into his activities at Western International Securities. Mr. Masco was terminated by the firm, which is based in Pasadena, Calif., in December. Mr. Mascho and Dawn J. Bennett, who also worked at the brokerage firm, are the subjects of an investigation by the Securities and Exchange Commission into an alleged scheme that involved the sale of more than $20 million in convertible and promissory notes to at least 46 investors from December 2014 to July 2017. In December, in connection with its fraud case against Ms. Bennett, the SEC charged Mr. Mascho, the onetime chief financial officer of DJB Holdings, her investment firm, with aiding and abetting an offering fraud by the firm. The U.S. Attorney in Maryland, where Mr. Mascho lives, has opened a criminal case against him in the matter. In its letter of acceptance, waiver and consent in which it barred Mr. Mascho, Finra said that it was investigating him for "potential serious violations, including fraud, undisclosed outside business activities, and private securities transactions." In recent years, Ms. Bennett repeatedly has been in trouble with the SEC, which charged her in September 2015 with inflating both the amount of assets under management by her firm, Bennett Group Financial Services, and the investment returns obtained by the firm. After failing to appear last year at an SEC hearing before an administrative judge, she was barred from the securities industry this March. Several customer complaints against her are pending.

Latest News

AI use reshapes advisor satisfaction and deepens client trust, separate studies reveal
AI use reshapes advisor satisfaction and deepens client trust, separate studies reveal

Using artificial intelligence can have benefits for both advisors and their clients, according to new research.

Names of more B-Ds that sold deals of bankrupt Inspired Healthcare surface
Names of more B-Ds that sold deals of bankrupt Inspired Healthcare surface

Broker-dealers that sold the defunct securities backed by Inspired Healthcare generated more than $100 million in fees and commissions.

MetLife poll finds high-value home sales are becoming tax-planning events
MetLife poll finds high-value home sales are becoming tax-planning events

A new MetLife survey finds real estate professionals are increasingly steering clients toward tax experts as rising property values leave more sellers facing significant capital gains.

Kestra adds Raymond James recruiter to expand advisor hiring push
Kestra adds Raymond James recruiter to expand advisor hiring push

The independent broker-dealer expands its business development bench with a new recruiter and an internal promotion in the West.

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income

SPONSORED Why direct indexing stopped being optional

Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.