Francisco M Gomez Suspended After Customer Loans And Outside Business Activities

Francisco M Gomez (CRD# 6289883) is a former registered broker last employed with LPL Financial LLC (CRD# 6413) of Fate, TX. He was previously employed with BBVA Securities Inc. (CRD# 27060) of Mesquite, TX. He has been in the industry since 2016.

Gomez has one customer dispute, dated 9/15/2025. The customer alleged that Gomez “Sold annuities in 2020 without disclosing all material terms. Client also provided loans below market rates to entities allegedly affiliated with advisor.” The customer requested damages of $395,869.90, and the dispute was settled for $190,000.

LPL Financial permitted Gomez to resign on 11/5/2025 amid allegations that he “Failed to disclose and receive prior approval for loans from customer; failed to disclose and receive prior approval for outside business activities; and used an unapproved messaging platform to transmit business-related communications.”

Following his discharge, FINRA began an investigation into his business dealings and requested information from Gomez. When he failed to respond to these requests, FINRA issued a three-month suspension effective 4/6/2026. If Gomez fails to respond to FINRA’s requests by 6/16/2026, he will be permanently barred from any association with any FINRA member in any capacity.

When A Broker Has Outside Business Activities

Under FINRA Rule 3270, brokers and registered representatives must provide written notice to their member firm before engaging in any Outside Business Activity (OBA). The firm can assess any conflicts of interest, customer confusion, and if the activity might interfere with the broker’s duties at the firm.

When a broker engages in OBA, they must follow FINRA and their firm’s rules addressing their activities. First, the broker must disclose their intent and interests in OBA, and submit a detailed written report on their plans. The firm must then determine if the broker’s OBA might be considered part of the firm’s regular business.

Depending on the outcome, the firm may give permission, but place limits on the broker’s outside activities. If the firm determines whether it poses undue regulatory risk, conflicts with client obligations, or is otherwise problematic, it may deny the broker permission.

A broker’s OBA may not even be in the financial industry, but they still need their firm’s permission. If the outside activity involves selling securities for compensation, it shifts from an OBA to a Private Securities Transaction (PST) under FINRA Rule 3280. These require the firm’s express written approval and direct supervision before the broker can participate.

Should a broker pursue an OBA without their firm’s written approval and permission, the broker can be terminated, have disclosures in their Form U5 that impact future employment, a bar from the industry or extensive fines from FINRA.

Did You Invest With Francisco M Gomez?

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 and let us know how we can help.