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The Financial Industry Regulatory Authority (FINRA) announced the suspension of Ronald Gene Chronister, a registered representative with LPL Financial, for unauthorized trading in a deceased client’s account. This case highlights the critical role of compliance attorneys and underscores the importance of securities compliance at Bakhtiari & Harrison. The Incident According to FINRA’s order, Chronister’s client […]
The firm announces the filing of a FINRA arbitration and its continuing investigation of the sales practices of Karl Romero (Nasdaq:LPLA) for his management of client accounts and the overconcentration of energy and/or real estate related stocks including: Gastar Exploration Arbor Realty Resource Capital Corp. We are currently investigating whether all material risks of the […]
In February, the country’s largest independent broker-dealer, with more than 13,000 contractor representatives and advisers, was ordered by Massachusetts to pay up to $2 million in restitution to clients and a fine of $500,000. Ameriprise Financial Inc. and LPL Financial are the two largest sellers of nontraded REITs, accounting for about 20% of the annual […]
Beverly Hills based securities lawyers have launched an extensive investigation into the sales practices of LPL Financial, LLC regarding the recommendation of non-traded REITs to their clients. This investigation is critical as it follows a recently filed complaint by the Commonwealth of Massachusetts Securities Division, which delves into similar non-traded REIT sales practices. The Massachusetts […]
LPL Financial has been fined $100,000 for failing to properly oversee one of its brokers in Oregon who sold risky investments to people, many of them elderly and without the mental capacity to make investment decisions. The Oregon Division of Financial and Corporate Securities says LPL Financial, a division of LPL Investment Holdings Inc.,, has […]