June 3, 2020 Comments Off on Donald Padilla, Broker Investigation Blog, Current Investigations

Donald Padilla, Broker Investigation

Donald Padilla, Broker Investigation, featured by top securities fraud attorneys, The White Law Group

Financial Advisor Donald Padilla, LPL Financial in Alhambra, CA

Donald Padilla Reportedly Suspended from the Securities Industry

According to public records on the Financial Industry Regulatory Authority (FINRA) website, the regulator reportedly suspended Donald Padilla on June 2, 2020, from association with any FINRA member in any capacity. From February 2011 to November 2015, while associated with LPL Financial , Padilla allegedly set up and used unapproved email accounts to purportedly correspond with Firm customers about securities business and allegedly circumvented LPL’s supervision of his business in violation of FINRA Rules.

According to his broker profile, Padilla was also suspended in January 2020 due to failure to “comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.”

Padilla was reportedly registered with LPL Financial in Alhambra, CA from 2009 until 2015 when he was reportedly dismissed. He was then reportedly affiliated with Kestra Investment Services for three years until 2018, when he was also allegedly dismissed for “Failure to follow firm policy, specifically in relation to correspondence requirements and marketing designations.”

Investigating Potential Lawsuits

The White Law Group is investigating potential lawsuits regarding the liability that Padilla’s former employers may have for failure to properly supervise him.

When brokers violate securities laws, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. 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 White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee. We represent investors in FINRA arbitration claims in all 50 states, including California. Our attorneys have recovered millions of dollars from many brokerage firms in the past.

If you are concerned about your investments with Donald Padilla, 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.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

 

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