Articles Posted in LPL Financial

FINRA recently fined LPL Financial (CRD #6413) for failing to disclose customer complaints and for failures in the firm’s anti-money laundering (AML) program. A misunderstanding with FINRA’s rule caused LPL to ignore dozens of customer complaints. The firm incorrectly failed to file and/or update registered representatives U4 or U5 forms…

Bradley Taylor Pace (CRD #2097427) is a previously registered broker whose last employer was LPL Financial LLC (CRD #6413) of Orlando, FL. His previous employers include A.J. Pace & Co., Inc. (CRD #24228), also of Orlando, TD Waterhouse Investor Services, Inc. (CRD #7870) of Omaha, NE, and Quick & Reilly,…

Sanders Spangler (CRD #4188542) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Spangler consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with an investigation into potential…

Joshua Ellis (CRD #5500165) was suspended on March 26, 2018 from associating with any FINRA member firm in all capacities. If Ellis fails to request termination of the suspension within three months of the date of the Notice of Suspension, he will automatically be barred on May 31, 2018 from…

David Schmerber (CRD #2093918) is a currently registered broker and investment advisor with Cetera Advisors of Centerville, OH. He has been in the industry since 1990. His previous employers include: LPL Financial LLC (CRD #6413) Smith Barney Inc. (CRD #7059) Lehman Brothers Inc. (CRD #7506) Schmerber’s brokerage firm, LPL Financial,…

Silver Law Group is investigating former Coconut Creek, Florida-based LPL Financial broker Pedro O. Diaz (CRD# 4877003) after LPL Financial discharged him for short-term trading in mutual funds.  Short-term trading in mutual funds, according to Diaz’s FINRA BrokerCheck report, a violation of LPL Financial’s policies. LPL Financial had employed Diaz…

Silver Law Group is investigating former Colorado Springs, Colorado-based LPL Financial LLC broker Sonya Camarco (CRD# 2427529) after FINRA permanently barred her from the industry. According to Camarco’s FINRA BrokerCheck report, FINRA barred Camarco in September 2017 after she failed to respond to its inquiry for information. Sonya Camarco’s Employment…

Melvin Case (CRD# 2393464) has been with LPL Financial in Jacksonville, Florida since 2008. In 2017, he was discharged from the firm in relation to a 2016 felony criminal charge in Duval County Circuit Court. Case pled guilty to exploitation of an aged adult and was sentenced to two years…

Melvin Case CRD#2393464 Silver Law Group is investigating Jacksonville, Florida-based LPL Financial broker Melvin Case following multiple customer complaints alleging unsuitable investment recommendations, churning, and misrepresentation. Case is not currently employed by any FINRA registered brokerage. He was previously employed by firm LPL at their Jacksonville, FL office, where he…

Thomas J Borruso CRD#5475175 Silver Law Group is investigating former Melville, New York-based LPL Financial broker Thomas Borruso after a customer allegation of breach of unsuitable investment recommendations and over concentration was received by FINRA. Our attorneys are licensed in NY and routinely represent investors in New York City and…