{"id":4839,"date":"2018-01-30T14:09:48","date_gmt":"2018-01-30T20:09:48","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4828"},"modified":"2022-04-03T16:01:35","modified_gmt":"2022-04-03T21:01:35","slug":"texas-securities-cases-ex-lpl-financial-adviser-suspended-charging-unreasonable-fees-commissions-state-regulator-enters-cease-desist-order-r2b-coin-former-pharr-bank-work","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/texas-securities-cases-ex-lpl-financial-adviser-suspended-charging-unreasonable-fees-commissions-state-regulator-enters-cease-desist-order-r2b-coin-former-pharr-bank-work\/","title":{"rendered":"Texas Securities Cases: Ex-LPL Financial Adviser is Suspended for Charging Unreasonable Fees and Commissions, State Regulator Enters Cease and Desist Order Against R2B Coin, and Former Pharr Bank Worker Pleads Guilty to $1M Theft Involving Elderly Customers"},"content":{"rendered":"<p><strong>Beaumont, TX Investment Adviser is Suspended for 90 Days<\/strong><br \/>\nIn a Disciplinary Order, the Texas State Securities Board suspended former LPL Financial LLC (LPLA) investment adviser Jason N. Anderson for 90 days. The state contends that while registered with that firm, Anderson touted an active-trading program to clients that charged them unreasonable fees, which included commissions to Anderson, as well as trading costs.<\/p>\n<p>For example, one client paid costs that were approximately 30% of \u201cthe value of the average equity securities\u201d in the client\u2019s account. The Texas regulator said that the trading program would have had to make \u201cextraordinary returns\u201d for investors to \u201coffset\u201d such fees or even, in some cases, allow them to merely \u201cbreak-even.\u201d<\/p>\n<p>The order called the commissions and trading costs \u201cinequitable practices\u201d that <a href=\"https:\/\/texas.stockbroker-fraud.com\">violated the Texas Securities Act.<\/a> The state accused Anderson of not having reasonable grounds for believing that the trading program would be appropriate for these clients.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/texas-securities-cases-ex-lpl-financial-adviser-suspended-charging-unreasonable-fees-commissions-state-regulator-enters-cease-desist-order-r2b-coin-former-pharr-bank-work\/#more-4839\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beaumont, TX Investment Adviser is Suspended for 90 Days In a Disciplinary Order, the Texas State Securities Board suspended former LPL Financial LLC (LPLA) investment adviser Jason N. Anderson for 90 days. The state contends that while registered with that firm, Anderson touted an active-trading program to clients that charged them unreasonable fees, which included [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3877,3803,3750],"tags":[2946],"class_list":["post-4839","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-lpl-financial","category-senior-investors","category-texas-securities-fraud","tag-cryptocurrency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Texas Securities Cases: Ex-LPL Financial Adviser is Suspended for Charging Unreasonable Fees and Commissions, State Regulator Enters Cease and Desist Order Against R2B Coin, and Former Pharr Bank Worker Pleads Guilty to $1M Theft Involving Elderly Customers &#8212; Investor Lawyers Blog &#8212; January 30, 2018<\/title>\n<meta name=\"description\" content=\"Beaumont, TX Investment Adviser is Suspended for 90 Days In a Disciplinary Order, the Texas State Securities Board suspended former LPL Financial LLC &#8212; January 30, 2018\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/texas-securities-cases-ex-lpl-financial-adviser-suspended-charging-unreasonable-fees-commissions-state-regulator-enters-cease-desist-order-r2b-coin-former-pharr-bank-work\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Texas Securities Cases: Ex-LPL Financial Adviser is Suspended for Charging Unreasonable Fees and Commissions, State Regulator Enters Cease and Desist Order Against R2B Coin, and Former Pharr Bank Worker Pleads Guilty to $1M Theft Involving Elderly Customers &#8212; 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