Larry Peregrine: Did Cambridge Advisor Misappropriate Funds?

Garden Grove, California financial advisor Larry Peregrine (CRD# 1545146) allegedly misappropriated investor funds, according to a denied investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Cambridge Investment Research, doing business as Peregrine Planning.

Mr. Peregrine’s BrokerCheck report discloses one investor complaint. Filed in October 2024, it alleged that as a representative of Cambridge Investment Research, he “engaged in unauthorized trading and misappropriat[ed] funds.” The complaint alleged unspecified damages and was denied by the firm.

Investors should be aware that the misappropriation of client funds may be considered a violation of FINRA Rule 2150, under which no FINRA-associated person “shall make improper use of a customer’s securities or funds.” It may also be considered a violation of FINRA Rule 2010, which stipulates that brokers like Mr. Peregrine must “observe high standards of commercial honor and just and equitable principles of trade” in the conduct of their business. Similarly, unauthorized transactions may be found to violate FINRA Rule 3260, which describes specific conditions under which brokers like Mr. Peregrine are permitted to make transactions without first consulting the investor. Brokers who violate these rules may be held liable for damages.

According to the Financial Industry Regulatory Authority, Larry Peregrine holds 37 years of securities industry experience. Based in Garden Grove, California, he has been registered as a broker and an investment advisor with Cambridge Investment Research since 2019. His past registrations include American Independent Securities Group, Capital Synergy Partners, Financial West Group, Morgan Stanley, and Pruco Securities Corporation. His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 25 state licenses. (Information current as of November 17, 2024.)

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