John Lee Scott, of Phoenix, Arizona, a stockbroker formerly registered with LPL Financial LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he failed to comply with the regulator during the time that he was under investigation for engaging in outside business activities and private securities transactions while registered with LPL Financial LLC. Letter of Acceptance Waiver and Consent No. 2019064978901 (April 22, 2021).
According to the AWC, on February 26, 2021, the regulator requested Scott to testify about accusations of his undisclosed private securities transactions and outside business activities. The AWC states that Scott’s lawyer emailed FINRA on March 10, 2021, to confirm that Scott received its request. Scott refused to cooperate with the request, and his failure to testify prevented FINRA from determining if he violated FINRA rules on private securities transactions and outside business activities. The regulator instead found Scott to have violated FINRA Rules 2010 and 8210 for obstructing the investigation.
Scott was associated with LPL Financial LLC between August 27, 2013, and June 22, 2015, and again from March 30, 2017, to August 28, 2019.
