Brian Simmons Accused of Failing to Comply with Anti-Money Laundering Compliance Regulations After Transactions Involving Fibrocell Science Inc. Shares

Brian Simmons, formerly associated with John Carris Investments, was suspended from the securities industry by the Financial Industry Regulatory Authority (“FINRA”) in connection with allegations that Simmons failed to adequately establish and implement adequate anti-money laundering procedures, according to an order issued by FINRA.

Simmons, from August 2010 through May 2011, failed to establish and maintain supervisory procedures reasonably designed to achieve compliance with Anti-Money Laundering (“AML”) rules and regulations and failed to monitor and detect activity in violation of regulatory rules, according to FINRA.

Simmons also failed to establish, maintain, and enforce an adequate supervisory system in violation of regulatory rules, according to FINRA.

The allegations against Simmons arose in part due to transactions in shares involving low-priced securities, including shares of Fibrocell Science Inc., according to FINRA.

Simmons consented to his suspension levied by FINRA without denying or admitting FINRA’s findings.

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1174 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.