Former HD Vest Investment Services and LPL Financial Advisor Daniel Kasbar Under Investigation

Silver Law Group is investigating allegations made by the Financial Industry Regulatory Authority (“FINRA”) against former Hollywood, Florida broker Daniel G. Kasbar (CRD# 5869994).

FINRA barred Kasbar from the securities industry for failing to respond to FINRA’s requests for documents and information. FINRA was investigating Kasbar for allegedly engaging in outside business activities beyond the scope of the approval provided by his FINRA member firms, HD Vest Investment Services (“HD Vest”) and LPL Financial, LLC (“LPL”), between 2010 and 2015.

Kasbar entered the securities industry in February 2011 when he became registered with HD Vest. In March 2014, Kasbar voluntarily resigned from HD Vest and became registered with LPL as a General Securities representative.  On May 29, 2015, LPL discharged Kasbar alleging the same conduct in the FINRA investigation.

Brokerage firms have a responsibility to adequately supervise all representatives who are registered through their firm. In the same vein, those firms must take steps and set up protocols that ensure their financial advisors follow all securities rules, regulations, and internal firm policies.  If brokerage firms fail to adequately supervise their registered representatives, they may be liable for customer investment losses.

Silver Law Group represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.