SEC bars ex-LPL broker already serving 12-year prison sentence

Thomas Caniford pled guilty to securities fraud, publishing false statements and theft from the elderly.
MAR 31, 2017

The Securities and Exchange Commission on Thursday filed an order to bar a former LPL Financial broker, Thomas Caniford, who pled guilty in state court in Canton, Ohio, in 2016 to 135 counts, including securities fraud, publishing false statements and theft from the elderly, according to Mr. Caniford's BrokerCheck profile. He was previously sentenced to 12 years in prison. Mr. Caniford was registered with LPL Financial from March 2008 to March 2015. He started in the securities industry in 1982 and had worked for nine firms, including LPL. "The indictment to which [Mr.] Caniford pleaded guilty alleged, among other things, that [Mr.] Caniford made, issued, or published materially false statements or advertisements concerning securities" between 2010 and 2014, according to the SEC. He committed theft from elderly persons or disabled adults between 2009 and 2013 and committed securities fraud between 2009 and 2014, according to the SEC. He committed theft, grand theft and sold unregistered securities over a similar period of time, according to the SEC. Finra barred Mr. Caniford in June 2015. A spokesman for LPL Financial, Jeff Mochal, did not return a call for comment. Mr. Caniford could not be reached for comment.

Latest News

A year after sale, Commonwealth Financial and LPL start cutting staff
A year after sale, Commonwealth Financial and LPL start cutting staff

Commonwealth Financial joins a number of firm that have recently cut jobs.

Pension funds sue Primoris, allege it hid solar cost overruns from investors
Pension funds sue Primoris, allege it hid solar cost overruns from investors

A slow drip of disclosures, an executive exit, and a stock that fell hard before the suit landed

Unpaid caregivers face steeper financial hurdles on path to retirement, EBRI finds
Unpaid caregivers face steeper financial hurdles on path to retirement, EBRI finds

New research finds unpaid caregivers are more likely to struggle with debt, lower savings and diminished retirement confidence than non-caregivers.

Volatility: Best and worst of times
Volatility: Best and worst of times

Large broker-dealers and registered investment advisors have, since 2020, been developing or sticking to strategies and tactics to combat the pain of intense, short-term market volatility

Want to win in the advisor wars? Then make sure you’re offering plenty of choices
Want to win in the advisor wars? Then make sure you’re offering plenty of choices

Centaurus Financial touts its independence as a key selling point at a time when many firms are being swallowed up.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income