SEC Bars Ex-LPL Broker

Posted on October 27th, 2016 at 8:52 AM
SEC Bars Ex-LPL Broker

From the Desk of Jim Eccleston at Eccleston Law LLC:

Paul Lebel, formerly registered with LPL Financial, was barred by the Securities and Exchange Commission for defrauding four customers by churning their accounts.

Mr. Lebel worked for LPL Financial from 2008 to 2014. According to the SEC, Mr. Lebel exercised de facto control over these customers' accounts and excessively bought and sold mutual fund A shares, which carry large front-end load fees. The mutual fund A shares generated $50,000 in commissions for Mr. Lebel.

In addition to being barred from the industry, Mr. Lebel also will pay $56,500 as part of the settlement.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial advisors including breakaway broker servicesemployment mattersstrategic consulting and counselingbroker litigation and arbitration,whistleblower actions, 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: Eccleston, Eccleston Law, Eccleston Law LLC, James Eccleston, SEC, LPL broker, Paul Lebel, Mr. Lebel, LPL Financial, defrauding,

Return to Archive

TESTIMONIALS

Previous
Next

I want to thank you for your excellent professional representation. It was greatly appreciated.

Michael M.

LATEST NEWS AND ARTICLES

May 17, 2024
Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing

A former Fidelity Investments advisor, Michael Maeker, has initiated legal action against his former firm, alleging wrongful termination in response to his reporting of anti-investor sales tactics.

May 16, 2024
CFTC Investigates Banks for Potential Whistleblower Suppression

The Commodity Futures Trading Commission (CFTC) has initiated inquiries into several banks, including JPMorgan Chase, Bank of America, and Citigroup, regarding potentially hindering whistleblowers from disclosing information, as reported by Bloomberg News.

 

May 15, 2024
NFA Issues Order Against 50.ai Investments LLC

The National Futures Association's (NFA) Business Conduct Committee (BCC) has taken action against 50.ai Investments LLC, a former NFA Member commodity pool operator and forex firm, for violating multiple NFA compliance rules.