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Ex-LPL Broker John Scott Sanctioned, Barred
Former Phoenix, Arizona broker and investment adviser John Scott (CRD# 2407610) has been barred by the Financial Industry Regulatory Authority (FINRA) in connection to allegations he participated in undisclosed outside business activities and private securities transactions. Scott was most recently associated with LPL Financial in Phoenix.
According to a Letter of Acceptance, Waiver and Consent (No. 2019064978901) dated April 2021, John Scott was registered with LPL Financial from March 2017 until August 2019. In February 2021, FINRA was conducting an investigation into allegations he engaged in undisclosed outside business activities and private securities transactions when it sent him a request to provide on-the-record testimony. FINRA notes that it is empowered by Rule 8210(a) to require persons under its jurisdiction to provide testimony in connection to matters involved in its investigations. However, the AWC Letter goes on to state, Scott acknowledged via counsel in March 2021 that he had received the request but would not appear for the requested on-the-record testimony “at any time.” FINRA found that his refusal to appear for testimony as requested during its investigation constituted violations of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, John Scott was barred from associating with any FINRA member firm “in all capacities.”
According to the Financial Industry Regulatory Authority (FINRA), John Scott holds 23 years of securities industry experience and is currently barred from acting as a broker. His prior registrations include LPL Financial in Phoenix, Arizona; Financial Telesis Inc. in Phoenix, Arizona and Scottsdale, Arizona; and Securian Financial Services in Phoenix, Arizona. He has passed four securities industry qualifying examinations: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He currently holds zero state securities licenses. (Information current as of August 19, 2021.)