David Lee Jerke, a former stockbroker based in Tacoma, Washington, who was registered with LPL Financial LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in all capacities because he refused to comply with the regulator’s request for information. Letter of Acceptance, Waiver, and Consent No. 2024084491401 (March 3, 2025).
According to the AWC, on December 23, 2024, LPL filed a Form U5 stating that Jerke was terminated as a stockbroker because he allegedly attempted to obtain a personal loan from a customer without informing or receiving approval from the securities broker dealer—an action that violated its internal policies. He was discharged on December 16, 2024.
FINRA began investigating the circumstances surrounding Jerke’s termination and, on January 21, 2025, sent him a request for documents and information. Jerke received the request but informed FINRA on February 14, 2025, that he would not be responding or providing the requested materials.
By refusing to cooperate, Jerke violated FINRA Rule 8210, which requires individuals under FINRA’s jurisdiction to supply information and documents when asked as part of an investigation. His actions also violated FINRA Rule 2010, which obligates securities professionals to uphold high ethical standards. Jerke consented to the sanctions on February 27, 2025. FINRA accepted the AWC on March 3, 2025.
Jerke was associated with LPL Financial LLC in Tacoma, Washington from January 14, 2021 to December 23, 2024.
