Securities Arbitration Lawyer Blog
FINRA has barred former LPL Financial LLC broker John Scott from the securities industry. According to FINRA, the matter originated from an investigation of Mr. Scott’s potential participation in certain private placement offerings.
If you have lost money with John Scott, or LPL Financial LLC, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.
Iorio Altamirano LLP represents investors in disputes with their financial advisors and brokerage firms, such as LPL Financial LLC.
FINRA Letter of Acceptance, Waiver, and Consent (“AWC”)
John Scott and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on April 22, 2021, after Mr. Scott refused to appear for on-the-record testimony in connection with an investigation into Mr. Scott’s potential undisclosed outside business activities and private securities transactions.
In February 2021, FINRA sent Mr. Scott a notice to appear for on-the-record testimony pursuant to FINRA Rule 8210. Mr. Scott refused to appear for this testimony. By refusing to appear for on-the-record testimony as requested pursuant to FINRA Rule 8210, Mr. Scott violated FINRA Rules 8210 and 2010.
Accordingly, FINRA barred him from associating with any broker-dealer in all capacities.
FINRA Rules 8210 and 2010
For purposes of an investigation, under FINRA Rule 8210(a), FINRA may require any person subject to its jurisdiction to provide information “orally, in writing, or electronically and to testify at a location specified by FINRA staff, under oath or affirmation administered by a court reporter or a notary public if requested, with respect to any matter involved in the investigation, complaint, examination, or proceeding.”
A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010. The Rule requires member firms and associated persons to observe high standards of commercial honor and just and equitable principles of trade in the conduct of their business.
John Scott (CRD#: 2407610)
Mr. Scott entered the securities industry in 1993. He has 23 years of experience and was registered most recently as a broker with LPL Financial LLC between March 2017 – August 2019 and August 2013 – June 2015.
Mr. Scott has not associated with another FINRA member firm since leaving LPL Financial LLC in August 2019. Although Mr. Scott is not currently registered or associated with a FINRA member, he remains subject to FINRA’s jurisdiction.
How to Recover Financial Losses or Obtain a Free Consultation
If you have lost money with John Scott, or LPL Financial LLC, contact FINRA arbitration lawyers August Iorio and Jorge Altamirano of Iorio Altamirano LLP at august@ia-law.com, jorge@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm located in New York, NY. We pursue FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.