Nathan Marek Plumb of Madison, Wisconsin, a stockbroker registered with Lincoln Financial Advisors Corporation has been fined $10,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity for four months based upon allegations that Plumb engaged in an undisclosed outside business activity. Case No. 2020068210301 (Sept. 30, 2022).
According to the AWC, between August 2017 and September 2020, Plumb failed to notify Lincoln of the complete nature of his involvement in an outside business activity. Plumb participated in a separate outside business activity between January 2017 and September 2020 without giving Lincoln prior written notice.
Specifically, while he was associated with Lincoln, Plumb was contacted by and aided four individuals in their purchase of approximately $387,000.00 of mutual fund shares straight from a mutual fund company. In fact, Plumb began to provide consulting services to the mutual fund company in January 2017. Plumb failed to provide Lincoln with prior written notice of this activity and did not disclose that he had an association with the mutual fund company.
Plumb also falsely stated in three annual compliance questionnaires between November 2017 and December 2019 that he had disclosed all outside business activities to Lincoln. As a result, Plumb violated FINRA Rules 2010, 3270, and 3280.
Nathan Plumb was associated with Lincoln Financial Advisors Corporation in Madison, WI, as a stockbroker from December 9, 2016 to October 5, 2020. Lincoln Financial Advisors Corporation discharged Plumb based upon allegations that Plumb made unauthorized transactions.
