Jason N. Anderson of Beaumont, Texas, a stockbroker formerly registered with LPL Financial LLC, has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to fulfill his financial obligations in regard to an arbitration award or settlement agreement. Case No. 2017055025701 (Oct. 13, 2017).
FINRA Public Disclosure reveals that a customer filed an investment related civil action involving Anderson’s conduct, alleging that between April of 2007 and January of 2016, while Anderson was associated with LPL Financial, LLC, he improperly managed the customer’s investment account, churned the customer’s investment portfolio, and placed stock trades in the customer’s account without authorization.
Anderson was fired from LPL Financial LLC on January 22, 2016, based upon allegations that he transacted in a customer’s brokerage account on a discretionary basis; his unauthorized trading was conduct violative of the firm’s brokerage policies. Anderson became employed by Kovack Securities on January 27, 2016, but was fired on May 12, 2016, founded on allegations that he furnished signed, but incomplete new account forms and transfer forms to his firm in order to effect transactions.
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