Previously registered LPL broker Christopher Black, also known as Christopher Bryan Black and Chris Black, has been barred by FINRA for allegedly refusing to provide requested information and documents in connection with an investigation into the circumstance of Black’s termination by employing bank, according to FINRA’s Letter of Acceptance, Waiver and Consent (AWC), under review by investor rights attorney Alan Rosca.
Rosca Scarlato attorney Alan Rosca is investigating conduct related to ex-LPL broker Chris Black’s alleged refusal to provide requested information and documents during FINRA’s investigation in connection to Black’s termination by employing bank. Investors who are concerned about their investment with Black may contact attorney Rosca for a free case evaluation, or to provide any useful information. Call 888-998-0530, email at arosca@rscounsel.law, or leave a message through the contact form on this webpage.
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FINRA Reportedly Investigated Black for Allegations of Undisclosed Loan Arrangements with a Customer
On November 6, 2020, FINRA sent a request to Black to produce information and documents in connection to their investigation into Black’s alleged undisclosed loan arrangements with a customer without providing notice to the firm, the AWC states,
Christopher Black acknowledged that he received FINRA’s request and will not provide the requested information or documents at any time, according to the AWC. As a result of Black’s alleged misconduct, he received a bar from associating with any FINRA member firm in all capacities.
Christopher Bryan Black signed the AWC accepting and consenting to FINRA’s findings, without admitting or denying the findings, and solely for the purposes of the proceeding brought by or on behalf of FINRA, prior to a hearing and without an adjudication of any issue of law or fact.
Christopher Black Has Been Subject to Customer Disputes
According to Black’s FINRA Brokercheck page, he was the subject of a customer dispute filed in October 2020. The dispute filed in October 2020 alleges misappropriation of funds and the customer was seeking unspecified damages believed to exceed $5,000. The employing firm when the allegations occurred was reportedly LPL Financial and in July 2021 the dispute was settled for $40,000.
In April 2020, a customer filed a dispute involving Black alleging unsuitable recommendations and purchase of bond investments with regard to risk tolerance and investment objective, according to Black’s FINRA Brokercheck page. The customer was seeking $72,044 for the alleged damages and in July 2020 the customer received a settlement to the tune of $128,936.70.
In addition, two other customers reportedly alleged unsuitable recommendations with regard to purchase of bond investments, but one dispute filed in July 2020 was closed no action, and the other one filed in May 2021 was denied.
Christopher Black Was Registered with FINRA Since 2006
Black was reportedly registered with FINRA since May 2006 and switched employers three times according to his FINRA Brokercheck page. From May 2006 until May 2007, Black was registered with Linsco/Private Ledger located in Rome, Georgia. He then joined State Farm VP Management Corp located in Bloomington, Illinois in May 2007 and remained there until July 2007.
In November 2013 Black started working for Wells Fargo Clearing Services located in St. Simons Island, Georgia, and he remained there until September 2017. About a month later, Black switched to LPL Financial located in Statesboro, Georgia in October 2017 and he remained there until April 2020, according to FINRA.
Christopher Black was discharged from LPL Financial after he was terminated by employing bank for allegedly entering into undisclosed loan arrangements with a customer without giving prior notice to the firm, as reported on his FINRA Brokercheck page.
Christopher Black investors should note that starting October 2017 Black operated under Renasant Financial Services as a DBA for LPL, according to his Brokercheck disclosure.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Invested with Chris Black? Investor Lawyers Offer Free Consulations
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or broker misconduct and is currently investigating LPL broker Chris Black’s alleged refusal to provide requested information and documents during FINRA’s investigation into alleged undisclosed loan arrangements with customer.
The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of any money recovered for clients.
Investors who are concerned about their investment with Chris Black may contact Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
