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Former LPL Broker James Rosebrough Fined & Suspended for Undisclosed Outside Business Activity

FINRA fined and suspended former LPL Financial LLC broker James A. Rosebrough Jr. of Gilbert, Arizona for engaging in two outside business activities without notice while employed by LPL.

FINRA AWC #2013038263201

Investigators state that between 2011 and 2013, LPL broker Rosebrough formed two LLCs, one of which purchased an office condominium in which to conduct brokerage and insurance related business and the other to acquire and rent out a single family residence.

According to the findings, Rosebrough not only failed to inform LPL Financial of these outside business activities, he incorrectly answered "no" on a routine firm questionnaire to the question of whether he was engaged in any outside business activities.

Rosebrough's BrokerCheck report indicates that LPL Financial terminated his employment in September 2013 for a "violation of firm policy regarding outside business activities." The report also indicates that subsequent employer Securities America, Inc. permitted Rosebrough to resign from the firm on January 29, 2015 in a disclosure event with identical terminology to the LPL termination: "Employment Separation After Allegations."

If you have invested with former LPL Financial broker James A. Rosebrough Jr. or with any other broker or financial adviser whose undeclared outside business activity produced an undisclosed conflict of interest or other harmful result that has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.

The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.