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Ex-Raymond James Broker Lance Armstrong Barred

Former Columbia, New Jersey broker/adviser Lance Armstrong (CRD# 4592423) was recently sanctioned by the Financial Industry Regulatory Authority in connection to allegations he improperly accepted loans from customers and engaged in an undisclosed outside business activity. Armstrong is a former representative of Raymond James Financial Services.

According to a Letter of Acceptance, Waiver and Consent (No. 2019061580601) dated November 2019, Lance Armstrong became registered with Raymond James Financial Services as an Investment Company and Variable Contracts Product Representative in April 2007; then a General Securities Representative in May 2007; then as a General Securities Sales Supervisor in April 2013. He remained registered with the firm until February 2019, when the firm filed notice that it has discharged him in connection to allegations he “solicited and accepted multiple loans from customers in connection with an undisclosed outside business activity.” FINRA’s findings go on to state that it initiated an investigation into Armstrong’s conduct, and in connection with this investigation sent him a request on October 8, 2019 to appear and provide on-the-record testimony to FINRA on October 25, 2019. However, according to FINRA, Armstrong stated via an email from counsel to FINRA on October 15, 2019 that he was in receipt of FINRA’s request, but would not appear for the requested testimony “at any time.” FINRA found that his refusal to appear for testimony violated FINRA Rule 8210 as well as FINRA Rule 2010. As a result of the foregoing alleged conduct, FINRA barred Lance Armstrong from associating with any FINRA member in any capacity.

Lance Armstrong is currently not registered with any FINRA member firm. His previous registrations include Raymond James Financial Services, Sorrento Pacific Financial, and ICBA Financial Services Corporation. He has passed seven securities industry qualifying examinations and currently holds no state securities licenses. (Information current as of April 25, 2020.)

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