Depends on what you mean by with the brown removed It isn't bleached white. It is like they sold white and brown potatoes at the store, where a white potato was a pealed brown potato. Just as with potatoes, apples and others, the nutrients as well as the harmful stuff tends to collect in the skin.
Yes, but it's a lot easier to buy the rice as white rice than it is to remove the part of the plant that is harbouring the toxin at home. Even in plants, different tissues do different things.