Regulator Sanctions LPL Financial Stockbroker
Joe Percy Medrano of Golden Colorado a stockbroker formerly registered with LPL Financial LLC and Greenstar Advisors LLC is the subject of a Colorado Division of Securities Consent Licensing Order on January 2, 2020 in which he was placed on heightened supervision for three years.
Medrano has also been ordered to cease and desist violating Colorado laws according to a Stipulation and Consent Order containing allegations that he solicited customers for investment advice without having been licensed as an adviser in Colorado. Order No. 2019-CDS-026 (Aug. 29, 2019).
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Medrano was terminated by LPL Financial on January 9, 2018 based upon allegations that the stockbroker violated its policies and procedures. LPL Financial indicated that trades were effected by the stockbroker on a discretionary basis without the stockbroker obtaining written permission from the customer or the securities broker dealer.