Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on January 13, 2017 indicate that former Alabama-based LPL Financial broker/adviser Christopher Russell was recently discharged from LPL following allegations of misconduct. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Russell (CRD# 5012084).
Christopher Russell has spent ten years in the securities industry and was most recently registered with LPL Financial in Huntsville, Alabama (2014-2016). Previous registrations include Wells Fargo Advisors in Huntsville, Alabama; Morgan Stanley & Company in Huntsville, Alabama; and Morgan Stanley DW in Huntsville, Alabama. He is currently not registered with any state or firm.
According to his BrokerCheck report, Christopher Russell was recently discharged from his former employer.
In November 2016 Christopher Russell was terminated from LPL Financial in connection to an alleged “Violation of Firm policy regarding private securities transactions.”
“Private securities transactions,” or “selling away,” refers to the purchase, solicitation, or sale by a broker of securities not offered by his/her member firm. Such transactions are typically also not included in the firm’s official records. Both FINRA rules and federal securities law forbid selling away: Perhaps the most important regulatory codification with respect to selling away is FINRA Rule 3040, which states that “No person associated with a member shall participate in any manner in a private securities transaction” unless the transaction complies with numerous terms, including written authorization from the member firm. Investment professionals who engage in selling away may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has lost money investing with Christopher Russell, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.