Finra bars well-known advisor from securities industry

By SarahB

ProWEB Wire (Industry News)


The Financial Regulatory Authority Inc., (Finra) has permanently barred investment advisor Rhonda Breard from the securities industry after she was accused of stealing approximately $8 million from nearly 40 clients.

According to James S. Shorris, executive vice president and director of enforcement for Finra, "Finra will continue to use its resources and authority to swiftly remove bad brokers from the securities industry, especially those who steal from their clients."

Finra said Breard "consented to the entry of Finra's findings" while neither admitting nor denying the charges.

She now faces federal charges as well as civil lawsuits in her home state, where she is considered a minor celebrity after promoting her investment expertise via television infomercials and radio spots.