{"id":3656,"date":"2016-06-30T00:00:00","date_gmt":"2016-06-30T05:00:00","guid":{"rendered":"https:\/\/stockbrokerfraudblog.blawgcloud.com\/2016\/06\/financial_representative_news"},"modified":"2016-06-30T00:00:00","modified_gmt":"2016-06-30T05:00:00","slug":"financial-representative-news","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/financial-representative-news\/","title":{"rendered":"Financial Representative News: Ex-LPL Financial Broker Gets Suspension and Fine & Former Ex-GL Capital Partners CEO is Sentenced to Prison"},"content":{"rendered":"

Ex-LPL Financial Supervisor Settles with FINRA<\/strong><\/h2>\n

Peter Neuberg, a former LPL Financial (LPLA)<\/a> supervisor and broker, will pay a $15K fine and serve a six-month suspension to settle claims accusing him of not reasonably supervising a registered representative. According to an enforcement document signed by the Financial Industry Regulatory Authority, Neuberg stopped looking at paperwork that the representative prepared. This made it possible for the broker to modify documents about customer accounts and reuse signatures from forms that had been completed. Neuberg is settling without admitting or denying FINRA\u2019s findings.<\/p>\n

The purported supervisory failures would have taken place from September \u201911 to June \u201912. The broker, whom Neuberg supervised, falsified documents to expedite transactions to accommodate certain customers. Neuberg is accused of not properly training the broker.<\/p>\n

Ex-GL Capital Partners CEO Gets Nine Years in Prison<\/strong><\/h2>\n

In other news, Daniel Thibeault, the former CEO of GL Capital Partners, is sentenced to nine years behind bars for misappropriating at least $15M. He must pay $15.3M in restitution for the criminal charges. He also is contending with civil charges brought by the Securities and Exchange Commission.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ex-LPL Financial Supervisor Settles with FINRA Peter Neuberg, a former LPL Financial (LPLA) supervisor and broker, will pay a $15K fine and serve a six-month suspension to settle claims accusing him of not reasonably supervising a registered representative. 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