James Bylenga Barred from the Securities Industry.
According to the Financial Industry Regulatory Authority (FINRA), the regulator has reportedly barred James Bylenga, former LPL broker over possible loans from clients.
According to a Letter of Acceptance, Waiver and Consent (AWC), Bylenga of Kalamazoo, Michigan reportedly failed to respond to requests for testimony regarding a FINRA investigation into his conduct. Consequently, he has been barred from associating with any FINRA member at any time.
Bylenga’s FINRA BrokerCheck report states that he was affiliated with LPL Financial beginning in June 2016. He was reportedly fired in August 2018 as a result of “concerns over his advisory fee structure,” according to the AWC.
In October, LPL allegedly filed an amended Form U5 reporting that it began an internal review in September 2018 to determine whether Bylenga received loans from clients while associated with the firm.
For FINRA’s full findings, see FINRA case # NO. 2018060282201.
Failure to Supervise
The White Law Group is investigating potential claims involving James Bylenga and the liability his former employers may have for failure to properly supervise him.
Under FINRA rules and regulations, Broker-Dealers are responsible for supervising the actions of those advisors registered with their firm, and therefore may be held liable for the actions of their Broker(s).
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 and Franklin, Tennessee.
We represent investors in FINRA arbitration claims in all 50 states, including Michigan. Our attorneys have recovered millions of dollars from many brokerage firms in the past, including LPL Financial.
If you are concerned about your investments with James Bylenga and LPL Financial, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.