John Aloysius Dougherty of Blue Bell, Pennsylvania, a stockbroker registered with LPL Financial LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Dougherty failed to provide information and documents requested in connection with FINRA’s investigation into his potential private securities transactions and outside business activities. Letter of Acceptance, Waiver, and Consent No. 2023077908201 (December 1, 2023).
On August 11, 2023, LPL Financial LLC reported that they terminated Dougherty’s employment due to his involvement in outside business activities and participation in private investments, both without the securities broker dealer’s approval.
The AWC stated that Dougherty was asked to provide documents and information to the regulator by June 29, 2023. FINRA granted Dougherty an extension of the deadline to cooperate. On August 14, 2023, Dougherty received another request from FINRA for documents and information and was granted an extension until September 7, 2023. However, on September 7, 2023, Dougherty’s lawyer informed FINRA that Dougherty would not cooperate in the investigation. Therefore, Dougherty violated FINRA Rules 8210 and 2010.
FINRA Public Disclosure additionally shows that on January 19, 2023, a customer initiated a civil action in a Richland County, South Carolina state court. The case involved allegations that Dougherty, while associated with Wells Fargo Clearing Services LLC, engaged in unsuitable trading, and failed to provide necessary documents and disclosures to the customer between 2013 and 2021. Civil Action No. 2023-CP-40-00242
Dougherty was associated with LPL Financial LLC in Blue Bell, Pennsylvania, from January 4, 2021, to August 11, 2023. Prior to this, he was associated with Wells Fargo Clearing Services LLC in Collegeville, Pennsylvania, from April 26, 2013, to January 13, 2021.
