Ex-LPL Financial Adviser, James Bashaw from Texas, Lands at New Brokerage Firm

LPL Financial（LPLA）的前明星财务顾问James“ Jeb” Bashaw来自Texasis now registered with International Assets Advisory, a small brokerage firm. LPL Financial fired Bashaw last month over allegations involving selling away. Then, for a while this month, he was with Wunderlich Securities Inc.

Selling away typically involves engaging in private securities transactions sans the required written disclosure or brokerage firm approval. It can also include borrowing from a client, as well as engaging in a transaction that is a potential conflict interest, again without the required disclosure in writing or firm approval.

Responding to the selling away allegations, Bashaw noted that he was “home supervised” and underwent more than a dozen perfect audits while affiliated with LPL. After his firing, Wunderlich took steps to hire Bashaw but there was a delay in transferring his license to the firm. In the end, the broker-dealer and Bashaw reportedly decided not to pursue a working relationship.

In 2011, Bashaw was ranked the number one financial adviser in Texas. He founded a dually registered firm in Houston, which was one of the biggest affiliated LPL practices. He reportedly managed assets of $3.8 billion.

在其他LPL金融新闻中，本周首席执行官马克·卡萨迪（Mark Casady）在解决公司合规性问题的时间里向股东道歉。这些问题使经纪公司在定居点，赔偿金和罚款方面花费了数百万美元。

Casady的声明是在母公司LPL Financial Holdings Inc.宣布，经纪交易商预计将征收约2300万美元的费用以解决未公开的监管问题。这比预期的多1800万美元。公告后，LPL股票下跌7％。

LPL表示，监管问题主要涉及LPL Financial的政策，系统和程序。卡萨迪（Casady）不详细介绍，这些问题的性质使难以识别或评估“解决的时机或大小”。

For the last two years, LPL Financial has been contending with regulators over different issues. Earlier this month, regulators in Massachusetts announced that LPL had consented to pay back senior investors $541K for surrender charges from switching variable annuities. In June, LPL Financial was told to pay $820K in restitution and a $2 million fine to Illinois regulators for not properly mantaining books and records that documented 1035 exchanges.

Last year, FINRA fined LPL $7.5 million for close to three dozen system failures involving emails. The firm paid investors in Massachusetts $4.8 million in restitution related to their purchase of nontraded real estate investment trusts.

OurTexas broker fraud lawyers代表希望弥补损失的投资者。立即联系Shepherd Smith Edwards和Kantas，Ltd Llp。

Ex-LPL Adviser’s Talks With Wunderlich Scuttled, The Wall Street Journal, October 14, 2014

首席执行官马克·卡萨迪（Mark Casady）向LPL财务股东道歉，要求合规性失误，投资新闻，2014年10月30日

More Blog Posts:
LPL FinancialFires Texas Branch Manager Over Selling Away Claims, Settles with Senior Investors in Massachusetts for $541,000 Over Faulty Variable Annuity Switches，股票经纪欺诈博客，2014年10月15日

Former LPL Financial Broker Must Pay Almost $2 Million For Bilking Clients, Including Elderly Investors, Stockbroker Fraud Blog, August 29, 2014

LPL FinancialOrdered to Pay $7.5M FINRA Fine Over E-Mail Failures, Institutional Investor Securities Blog, May 22, 2013