Finra bars former LPL broker over possible loans from clients

James Bylenga declined to take part in an inquiry into his conduct

Apr 8, 2019 @ 1:45 pm

By InvestmentNews

The Financial Industry Regulatory Authority Inc. has barred former LPL broker James Bylenga of Kalamazoo, Mich., for failing to take part in a Finra inquiry regarding his conduct.

Mr. Bylenga was affiliated with LPL Financial from 2016 until he was discharged in August 2018 as a result of "concerns over his advisory fee structure," according to a Finra letter of acceptance, waiver and consent.

In October, LPL filed an amended Form U5 reporting that it began an internal review in September 2018 to determine whether Mr. Bylenga received loans from clients while associated with the firm.

Mr. Bylenga began his career in 1980 and worked at five firms before affiliating with LPL. He has not worked at a securities firm since leaving LPL.


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