Finra bars no-show former broker fired over fund sales

Lawrence Fawcett Jr. had consented to making unsuitable recommendations.
MAR 27, 2018

The Financial Industry Regulatory Authority, Inc. has barred Lawrence Fawcett, Jr., a former broker with WestPark Capital, for failure to appear at a hearing looking into his trading activity. In December, Mr. Fawcett consented to a Finra finding that he recommended unsuitable mutual fund transactions to a customer. At that time, he was suspended for 15 business days, fined $2,500 and ordered to pay disgorgement of commissions received in the amount of $22,714.30. WestPark discharged Mr. Fawcett earlier this month, saying that he "conducted business from a non-disclosed location and made false representations to the firm." Mr. Fawcett joined the firm in 2015, after working at five firms since beginning his career in 2012 at EKN Financial, which was expelled by Finra that year.

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