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Options for Clients of Former LPL Financial LLC Broker James Couture Who Suffered Investment Losses

Posted on Monday, February 1st, 2021 at 8:59 pm    

LPL Financial LLC

There are options for clients of former LPL Financial LLC broker James Couture (CRD# 4406284) who suffered investment losses. Couture was registered with LPL Financial LLC in Worcester, Massachusetts from 2009 to 2020, when he was terminated regarding, “Altered identifying information, account balances and distributions in customer account statement; maintained comingled customer funds; use of an unapproved email address.”

In October 2020, FINRA barred Couture after he “consented to the sanction and to the entry of findings that he refused to produce all of the information and documents requested by FINRA in connection with its investigation into the allegations that formed the basis of his termination from his member firm. The findings stated that Couture’s firm submitted a Form U5 terminating his registration and alleging that he altered identifying information, account balances and distributions in customer account statements; maintained comingled customer funds; and used an unapproved email address. Initially FINRA received a response to its requests from Couture, however his production was substantially incomplete. Subsequently, Couture decided to cease complying with FINRA’s requests.”

Couture has been the subject of one customer complaint, according to his CRD report:

October 2020. “Misrepresentation. Activity period: 4/21/20 to 10/20/20.” The case is currently pending. The complaint was regarding mutual funds and exchange traded funds. 

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, LPL Financial LLC may be liable for investment or other losses suffered by Couture’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.