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Finra Bars Another Former LPL Broker

By Alex Padalka April 18, 2019

Finra has barred a former LPL Financial broker who refused to appear for testimony for the industry self-regulator’s investigation into whether she had sold items on eBay that belonged to her supervisor or the company, Finra says.

Renee Valerie Altamirano had joined LPL in 2009 “in a non-registered fingerprint capacity” and became registered with LPL as a general securities representative in September 2014, according to letter of acceptance, waiver and consent published by Finra.

The company discharged her in March 2018 for violating its policy on outside business, specifically online sales “of various merchandise. She was not the owner of some of the items,” LPL claims, according to Altamirano’s BrokerCheck profile.

The same month she was discharged by LPL, Altamirano became associated with another Finra member firm, which the regulator doesn’t name, in a non-registered fingerprint capacity and stayed there until March 2019, when the firm notified Finra of her termination, according to the letter of consent.

Altamirano agreed to the bar without admitting or denying Finra’s findings, the regulator says.

Finra

This is at least the third former LPL broker to get sanctioned by Finra so far this month. The regulator barred another former LPL broker about a week ago for refusing to provide requested information on whether he had taken loans from his clients.

The week prior, Finra suspended a former LPL broker over allegations that he didn’t notify the company about a viatical settlement he had set up as a private securities transaction.