FINRA Bars Jason Nelson, Former LPL Financial Broker for Non-Cooperation

Posted on June 14th, 2019 at 2:43 PM
FINRA Bars Jason Nelson, Former LPL Financial Broker for Non-Cooperation

From the Desk of Jim Eccleston at Eccleston Law LLC:

The Financial Industry Regulatory Authority (“FINRA”) recently barred Jason Nelson (CRD No. 4824535) from the industry for refusing to cooperate in FINRA’s Rule 8210 inquiry.

According to the Letter of Acceptance, Waiver, and Consent (“AWC”), Jason Nelson refused to provide on-the-record testimony requested by FINRA. FINRA stated that Nelson’s former member firm LPL Financial LLC had terminated his employment and filed a Form U-5 indicating that he misrepresented customer financial information to the firm in connection with annuity purchases.

FINRA Rule 8210 requires associated persons to “provide information orally, in writing, or electronically and to testify at a location specified by FINRA staff, under oath or affirmation with respect to any matter involved in the investigation, complaint, examination or proceeding.”

According to FINRA’s BrokerCheck, Jason had been with LPL Financial in Tremont for five years, from 01/17/2013 until 01/19/2018 and was terminated by LPL in January 2018, following allegations that he misrepresented client financial information to the firm in connection with annuity purchases.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, finra, lpl financial broker, jason nelson

Return to Archive

TESTIMONIALS

Previous
Next

As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

Bill C. and Dan M.

LATEST NEWS AND ARTICLES

October 27, 2021
Former LPL Advisor Suspended For Completing 22 Trades Absent Client Consent

The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former LPL advisor who allegedly completed 22 trades on behalf of a client without obtaining written consent. FINRA has issued a $5,000 fine and has suspended Michael Hartlett for 10 days.

October 26, 2021
Former Advisor Fails To Reverse Bar After Alleged $1 Million Theft From RBC

A former RBC Wealth Management advisor lost his bid to reverse an industry bar, according to an appellate decision issued by the Financial Industry Regulatory Authority (FINRA).

October 25, 2021
Firms Walk Thin Regulatory Line In Referring Self-Directed Clients To Advisors

While online trading platforms have surged in popularity during the pandemic, brokerage firms view self-directed investors as a source of new clients.