Securities Arbitration Lawyer Blog
FINRA has barred Great Nation Investment Corporation President, and CEO Bryon Pat Treat from the securities industry. Mr. Treat has been barred from associating with any FINRA member firm in any capacity because he refused to provide information and documents connected with FINRA’s investigation into whether he reasonably supervised the sale of illiquid “church bonds.”
Earlier this year, FINRA also barred financial advisor David A. Jenson from the securities industry for failing to cooperate with an investigation into whether Mr. Jenson recommended customers invest in an unsuitable concentration of church bonds. To read more about Mr. Jenson’s expulsion, please click here.
Great Nation Investment Corporation is an SEC-registered brokerage firm headquartered in Amarillo, Texas. The firm’s primary business activity is the offer and sale of church bonds.
If you have suffered financial losses investing with Bryon Treat, David Jenson, or Great Nation Investment Corporation, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential review of your account.
FINRA Letter of Acceptance, Waiver, and Consent No. 2019060783602
Bryon Pat Treat and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on February 26, 2021, after Mr. Treat refused to provide information and documents in connection with FINRA’s investigation into whether Mr. Treat reasonably supervised the sale of illiquid church bonds.
On February 1, 2021, in connection with the investigation, FINRA sent a request to Mr. Treat to produce information and documents pursuant to FINRA Rule 8210. Mr. Treat, through counsel, reportedly stated that he would not provide the requested information or documents at any time.
By refusing to provide the information or documents, Mr. Treat violated FINRA Rules 8210 and 2010. Accordingly, FINRA barred him from associating with any broker-dealer in all capacities.
Bryon Pat Treat (CRD# 1466393)
Bryon Treat has 35 years of experience in the securities industry and has been associated with Great Nation Investment Corporation since 1989. According to his LinkedIn profile, he has been the Chairman and CEO of Great Nation Investment Corporation since July 1989.
Mr. Treat’s expulsion by FINRA is not the first time he has been the subject of regulatory sanctions. In 2014, Mr. Treat was fined $5,000 for failing to establish, maintain, and enforce an adequate supervisory system and written supervisory procedures regarding Great Nation Investment Corporation’s participation in the contingent offering of securities.
Great Nation Investment Corporation – Supervisory Duties
Brokerage firms like Great Nation Investment Corporation must properly supervise financial advisors and customer accounts. Brokerage firms must also establish and maintain a reasonably designed system to oversee account activity, such as suitable investment recommendations and overconcentration risks, to ensure compliance with securities laws and industry regulations. When a brokerage firm fails to sufficiently supervise their financial advisors or the investment account activity, they may be liable for investment losses sustained by customers.
How to Recover Financial Losses or Free Obtain a Free Consultation
Securities arbitration is a unique and complex practice area. Investors should seek out experienced counsel who understands the FINRA forum and can navigate the arbitration process to effectively advocate on their behalf.
If you or a loved one were a customer of Pat Treat, David Jenson, or Great Nation Investment Corporation and either sustained financial losses or suspect inappropriate activity, contact New York securities arbitration attorney August Iorio of Iorio Altamirano LLP. August Iorio can be reached at august@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. Iorio Altamirano LLP pursues FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by stockbrokers and brokerage firms.