LPL Stockbroker Barred In Investigation Over Altering Customer Statements
James Kenneth Couture of Worcester Massachusetts a stockbroker formerly registered with LPL Financial has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Couture failed to cooperate with FINRA investigators. Letter of Acceptance Waiver and Consent No. 2020067011901 (Oct. 21, 2020).
According to the AWC, FINRA was notified by LPL Financial that Couture had been discharged founded on accusations of him altering balances and information in a customer account statement, using an unapproved email address, and commingling a customers’ funds. On June 25, 2020, Couture was instructed by FINRA to hand over information and documents. A second request for Couture’s information and documents had been made on July 20, 2020. The AWC stated that Couture failed to satisfy FINRA’s requests.
The AWC stated that on August 25, 2020, a third request had been made by FINRA but to no avail. Couture’s legal counsel informed the regulator that Couture would not comply with the requests. The stockbroker determined that it was best for him to stop complying with the investigation, so he never provided the information and documents that the regulator asked for. His conduct was violative of FINRA Rules 2010 and 8210.
Couture was registered with LPL Financial between February 27, 2009 and July 16, 2020.