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Skippack Broker Lee Taylor Barred by FINRA

Former Skippack, Pennsylvania broker and investment adviser Lee Taylor (CRD# 3045030) has been barred by the Financial Industry Regulatory Authority over findings he refused to cooperate with a FINRA inquiry into allegations of misconduct against him. He is formerly a representative of Purshe Kaplan Sterling Investments in Skippack.

According to a Letter of Acceptance, Waiver and Consent (No. 2019064209301) dated September 28, 2021, Lee Taylor first became registered with FINRA in February 2000, eventually registering as a General Securities Representative with Purshe Kaplan Sterling in October 2011. In November 2011, he became additionally registered as an Operations Professional through the firm. The AWC Letter states that on September 2, 2021, FINRA sent him a request to produce documents and information connected with its investigation into whether he participated in undisclosed private securities transactions. FINRA notes that the matter “originated from a tip to the FINRA Securities Helpline for Seniors.” It concerned alleged private securities transactions for Purshe Kaplan Sterling clients, “including participating in trading for them for compensation in brokerage accounts outside” the firm.

FINRA’s findings state that Lee Taylor’s response to the request for information and documents was due by September 16, 2021. On September 17, 2021, he allegedly indicated to FINRA in a phone call that although he had received the request, he would not produce the requested materials “at any time.” FINRA found this refusal to constitute a violation of FINRA Rule 8210, which requires persons under FINRA’s jurisdiction to information requested as part of FINRA investigations. It also found that his refusal constituted FINRA Rule 2010, requiring brokers to uphold high standards of commercial honor. As a result of these findings, FINRA barred Lee Taylor from associating with any FINRA member firm in all capacities. 

According to the Financial Industry Regulatory Authority, Lee Taylor holds 21 years of securities industry experience and is not presently registered as a broker. His previous registrations include Purshe Kaplan Sterling Investments (Skippack, Pennsylvania; 2011-2021), NEXT Financial Group (Bally, Pennsylvania; 2005-2011), IDS Life Insurance Company (Minneapolis, Minnesota; 2000-2005), and Ameriprise Financial Services (Minneapolis; 2000-2005). His qualifications include the passage of four securities industry examinations: the Uniform Investment Adviser Law Examination (Series 65), the Uniform Securities Agent State Law Examination (Series 63), the Securities Industry Essentials Examination (SIE), and the General Securities Representative Examination (Series 7). He does not presently hold any state licenses. (Information accessed on December 17, 2021.)

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