LPL Stockbroker Investigated For Unauthorized Trading

John Henry Geary of Mount Laurel New Jersey a stockbroker formerly registered with LPL Financial LLC is referenced in a Financial Industry Regulatory Authority (FINRA) investigation dated August 7, 2019 into whether Geary executed unauthorized trades in a customer’s account.

According to FINRA Public Disclosure, Geary effected the sale of stock from a customer’s investment portfolio without receiving permission from the customer on the day that the transaction took place. Allegedly, the customer died two days prior to Geary effecting the transaction. The stockbroker allegedly failed to receive written authorization from the customer to effect transactions on a discretionary basis, or he failed to receive permission from LPL Financial LLC to exercise discretion in the customer’s account. In fact, Geary was discharged by LPL Financial LLC on April 16, 2019 founded on accusations of Geary having executed transactions on a discretionary basis contrary to the securities broker dealer’s policies.

FINRA Public Disclosure additionally confirms that a customer filed an investment related complaint concerning Geary’s conduct where the customer requested unspecified damages based upon allegations that when Geary was associated with A.G. Edwards Sons Inc., omissions were made by the stockbroker, and investments were purchased without the customer’s knowledge or consent.