Christopher Bryan Black of Statesboro Georgia a stockbroker formerly registered with LPL Financial has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that he did not comply with FINRA Department of Enforcement during its investigation into loans that Black possibly received from a customer of LPL Financial. Letter of Acceptance Waiver and Consent No. 2020066650101 (Jan. 12, 2021).
According to the AWC, FINRA began an investigation into Black’s activities when it received notice from LPL Financial that Black was discharged. The securities broker dealer indicated that Black allegedly entered into a customer loan arrangement without getting authorization. The stockbroker allegedly violated its policies.
On November 6, 2020, Black was asked by FINRA personnel to provide documents and information in response to the allegations made by LPL Financial. On December 7, 2020, FINRA received confirmation that Black received its requests and that he would not fulfill them. Black’s failure to provide the documents or information constituted the violation of FINRA Rules 2010 and 8210.
FINRA Public Disclosure reveals that Black has been referenced in three customer initiated investment related disputes regarding accusations of his improprieties while employed by LPL Financial. On July 9, 2020, a customer initiated investment related complaint involving Black’s conduct was resolved for $128,936.70 in damages based upon allegations that the customer was provided with
from Black in regard to their purchase of municipal bonds at LPL Financial. The complaint alleges that the transactions were unsuitable given the customer’s tolerance for risk and their objectives for investing. Black is also the subject of a customer initiated investment related written complaint on July 14, 2020 in which the customer sought more than $5,000.00 in compensatory damages supported by accusations of the stockbroker’s unsuitable advice during the time that he was associated with LPL Financial. According to the complaint, misrepresentations had also been made to the customer concerning municipal bonds.
On October 21, 2020, another customer filed an investment related complaint regarding Black’s conduct where the customer requested more than $5,000.00 in damages founded on allegations that the LPL Financial customer’s funds had been misappropriated between August of 2019 and October of 2020.
Black was registered with LPL Financial between October 24, 2017 and March 30, 2020.