Securities Lawyers Blog
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor Christopher Parr (Parr), in October 2017, was under investigation by FINRA based on a preliminary determination that Parr’s conduct allegedly violated FINRA Rules 3240, 3280, and 2010. In addition, the state of Kansas has a pending regulatory mater concerning allegations that Parr borrowed money from a client on three occasions and did not disclose the loans to his firm. These allegations concern conduct that occurred while Parr was registered with KCD Financial, Inc. (KCD Financial).
At this time it is unclear the extent and scope of Parr’s activities. Parr’s CRD lists that he does business under the name First Capital Group, Inc.
The providing of loans or selling of notes and other investments outside of a brokerage firm constitutes impermissible private securities transactions – a practice known in the industry as “selling away”.