Securities Arbitration Lawyer Blog
FINRA has barred former LPL Financial LLC broker John Edgar Simmons, Jr. from the securities industry for refusing to cooperate with a FINRA investigation.
Mr. Simmons, Jr. was most recently registered as a broker with LPL Financial LLC in Gulf Breeze, Florida.
If you have lost money with John Edgar Simmons, Jr., or LPL Financial LLC, contact FINRA arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.
Iorio Altamirano LLP represents investors in disputes with their financial advisors and brokerage firms, such as LPL Financial LLC.
FINRA Letter of Acceptance, Waiver, and Consent (“AWC”)
John Edgar Simmons, Jr. and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on May 10, 2021. According to the AWC, the matter originated from a Form U5 Amendment filed by LPL Financial LLC on October 30, 2020, disclosing an internal review into Mr. Simmons, Jr.’s “involvement in a private securities transaction without notice or approval by the Firm.”
On February 24, 2021, in connection with an investigation into the allegations contained in the Form U5 Amendment, FINRA sent a letter to Mr. Simmons, Jr. requesting information and documents pursuant to FINRA Rule 8210. In response, Mr. Simmons, Jr. indicated that he had received FINRA’s request and that he would not provide the information and documents.
By refusing to produce the information and documents as requested pursuant to FINRA Rule 8210, Mr. Simmons, Jr. violated FINRA Rules 8210 and 2010. Accordingly, FINRA barred him from associating with any broker-dealer in all capacities.
FINRA Rules 8210 and 2010
For purposes of an investigation, under FINRA Rule 8210(a), FINRA may require any person subject to its jurisdiction to provide information “orally, in writing, or electronically…” A person who fails to provide the requested information violates the Rule.
A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010. The Rule requires member firms and associated persons to observe high standards of commercial honor and just and equitable principles of trade in the conduct of their business.
John Edgar Simmons, Jr. (CRD#: 4878890)
John Edgar Simmons, Jr. has 15 years of experience in the securities industry and was most recently registered as a broker with LPL Financial LLC between August 2015 – September 2020.
Mr. Simmons, Jr. has not associated with another FINRA member firm since leaving LPL Financial LLC in September 2020. Although Mr. Simmons, Jr. is not currently registered or associated with a FINRA member, he remains subject to FINRA’ s jurisdiction.
How to Recover Losses or Obtain a Free Consultation
If you have lost money with John Edgar Simmons, Jr., or LPL Financial LLC, contact FINRA arbitration lawyers August Iorio and Jorge Altamirano of Iorio Altamirano LLP at august@ia-law.com, jorge@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. We pursue FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.