upward sloping chart over dollars imageLouis Mark Miller of Jericho New York a stockbroker formerly employed by LPL Financial LLC has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Miller failed to testify before FINRA personnel during an investigation into accusations of Miller’s unauthorized trading in customers’ brokerage accounts when he was employed by LPL Financial. Department of Enforcement v. Louis Mark Miller Disciplinary Proceeding No. 2017056829901 (July 26, 2019).

According to the Complaint, a letter sent to Miller by FINRA personnel on October 17, 2018 under Rule 8210 requested that he complete and submit a questionnaire FINRA provided him in reference to his scheduled appearance for recorded testimony on November 14, 2018. Allegedly, Miller’s legal counsel confirmed for FINRA personnel on October 19, 2018 that its request was received by Miller. Yet, Miller purportedly failed to submit this questionnaire by November 1, 2018, and neglected to make an appearance to provide recorded testimony.

The Complaint stated that a second letter had been sent to Miller’s counsel by FINRA on November 15, 2018 in regard to Miller’s failure to provide recorded testimony on November 14, 2018. That letter reportedly instructed Miller to make an appearance on December 12, 2018. Miller allegedly contacted FINRA on the day he was scheduled to testify to confirm he received the request but would not comply.

The Complaint further alleged that on June 18, 2019, a third letter had been sent by FINRA to Miller’s counsel in regard to the stockbroker’s failure to respond to prior FINRA requests. The Complaint indicated that a final attempt to procure Miller’s documentation was made by FINRA in advance of the scheduled testimony but to no avail. Miller allegedly failed to submit the questionnaire or make an appearance before FINRA.

FINRA apparently noted in the letter to Miller’s counsel that Miller’s failure to provide the recorded testimony would constitute violations of FINRA Rules 8210 and 2010. Indeed, the Complaint stated that the requests FINRA made under Rule 8210 warned that Miller’s refusal to respond could serve a basis for FINRA to bar him from the securities industry. FINRA Department of Enforcement alleged that Miller’s failure to comply with FINRA’s requests constituted violations of FINRA Rules 2010 and 8210.

Miller was discharged by LPL Financial on December 8, 2017 supported by accusations that he executed discretionary trades in customer accounts; conduct violative of LPL Financial policy.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

Questions or comments regarding the source or accuracy of any information, including any subsequent developments, should be directed to:  [email protected]

This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer.

Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

Stockbroker Fraud. Securities Arbitration and Investment Fraud Lawyers.  
National Practice. Contingent Fee. Confidential Free Consultation.

 (877) SEC-ATTY

Tags: ,

No comments yet.

Leave a Reply

Name (required)

Email (will not be published) (required)