FINRA Suspends Former LPL Investment Adviser After Borrowing $200,000 From a Client

Posted on May 9th, 2019 at 4:44 PM
FINRA Suspends Former LPL Investment Adviser After Borrowing $200,000 From a Client

From the Desk of Jim Eccleston at Eccleston Law LLC:

FINRA has suspended former LPL Financial investment adviser, James E. “Jeb” Bashaw for failing to disclose to LPL that he borrowed $200,000 from a customer in 2013.

According to FINRA, in 2014, LPL terminated Mr. Bashaw for falsely stating in two annual compliance questionnaires that he had never borrowed any money from his clients.

Notably, in 2011, before he was terminated by LPL Financial, Mr. Bashaw was ranked by Barron’s magazine as the top investment adviser in Texas, with total assets of $3.8 billion.

Along with a suspension for four months, Mr. Bashaw also was ordered to pay a $5,000 fine.  Mr. Bashaw currently is affiliated with International Assets Advisory, an Orlando, Florida-based independent broker-dealer.

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, financial adviser, lpl financial

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