FINRA Reportedly Bars Christopher Bryan Black after Allegations of Misappropriation of Funds
According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred financial advisor Christopher Bryan Black (CRD #5049080) from the securities industry after he reportedly failed to provide information in FINRA’s investigation into circumstances of his termination from his member firm.
Black’s broker report indicates that he was registered with LPL Financial in Statesboro, Georgia from 2017 until April 2020 when he was reportedly discharged for “undisclosed loan arrangements with customer.” Earlier in his career, he was reportedly affiliated with Wells Fargo Clearing Services in St. Simons Island, GA.
According to his broker record, Black has three customer lawsuits filed against him in 2020 for allegations of misappropriation of funds, misrepresentation and unsuitable investments, among others. One complaint is reportedly still pending.
For FINRA’s full findings see FINRA Case NO. 2020066650101.
Filing a Complaint against your Brokerage Firm
The White Law Group is investigating potential securities fraud claims involving Christopher Black and the liability his former employer, LPL Financial may have for failing to properly supervise him.
Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.
When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
If you are concerned about investments with Christopher Bryan Black (Chris Black), the securities attorneys at The White Law Group may be able to help you. Please call 888-637-5510 for a free consultation, or visit us on the web at www.whitesecuritieslaw.com.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois.
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