According to FINRA, Lynn Witherspoon Bryant was barred from association with any FINRA member in all capacities for refusing to appear for on-the-record testimony requested by FINRA in connection with its investigation into whether she engaged in private securities transactions without providing prior written notice to, and receiving prior written approval from, her member firm.

Private securities transactions, often called "selling away," occur when registered representatives sell securities outside their firm's supervision. This practice is prohibited unless the firm is notified and approves the transaction. Selling away exposes investors to unsuitable investments, fraud, and lack of regulatory oversight.

When representatives refuse to testify about potential selling away, they prevent FINRA from determining whether investors were exposed to inappropriate investments and ensuring that proper supervision was in place. Bryant's refusal to cooperate resulted in a bar from the industry.