Securities Lawyers Blog
Gana Weinstein LLP is investigating LPL Financial after its stunning termination of James “Jeb” Bashaw, a former broker with LPL Financial. According to FINRA’s BrokerCheck Report, LPL Financial terminated Mr. Bashaw for “participating in private securities transactions without providing written disclosure to and obtaining written approval from the firm.”
In addition, LPL explained that it terminated Mr. Bashaw for borrowing money from a client and engaging in a business transaction that created a “potential conflict of interest without providing written disclosure to and obtaining written approval from the firm.” Finally, LPL Financial stated that Mr. Bashaw failed to follow firm policies and industry regulations. Mr. Bashaw was discharged on September 24, 2014. In response, Mr. Bashaw stated that he was home supervised and had 13 perfect audits. Furthermore, he stated that he was still unclear as to the specifics of the discharge.
Mr. Bashaw started his career with Merrill Lynch, Pierce Fenner & Smith, Inc. and worked there for about two years and four months. Over his thirty year career, he also worked at Kidder, Peabody & Co., Thomas F. White & Co., First America Equities Corp., Augusta Securities Corp., Suntrust Equitable Securities, J.C. Bradford & Co., UBS Painewebber, Inc. and was most recently working at Wunderlich Securities, Inc.