On June 8, 2021, the Financial Industry Regulatory Authority (“FINRA”) and Titan Securities entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) whereby Titan Securities consented to a censure and $20,000 fine. The sanctions are a result of Titan Securities’ failure to properly conduct an evaluation of a broker’s proposed sale of Future Income Payments to customers.
Unrelatedly, just last week, Titan Securities CEO and owner Brad Brooks was suspended for one year for failing to supervise a broker’s outside business activities between 2009 and 2012.
FINRA Letter of Acceptance, Waiver, and Consent No. 2019061705101