LPL Financial Broker Eugene Smietana Discharged from Firm and Permanently Barred by FINRA

Have you invested funds with Eugene Smietana?

For investors who may have utilized the services of LPL Financial LLC broker Eugene Smietana out of Traverse City, Michigan, may have potential claims against LLP.

As of September 2015, FINRA has permanently barred Smietana from acting as a broker or otherwise associating with firms that sell securities to the public.

This action by FINRA, the securities industry regulatory organization, is a result of the broker’s failure to respond to the organization’s request for information.

When taking a closer look at Smietana’s FINRA BrokerCheck record, there are three customer disputes filed against Smietana in 2015, all alleging unsuitable and excessive trading in equities, as well as unauthorized trading in customer accounts. The damages granted in these three scenarios are in excess of $280,000.

Prior to that, Smietana’s record shows two tax judgments or liens in the amount of $26,307 and two civil judgment or liens in the amount of $22,613 filed against the broker.

In January 2015, LPL Financial LLC discharged Smietana citing allegations of discretionary trading in a brokerage account in violation of firm policy.

If you invested with Eugene Smietana and feel that his actions caused you to lose your investment money, it is important for you to understand your rights. You may be able to recover financial losses through securities arbitration.

Silver Law Group’s team of securities arbitration attorneys stands ready to help you understand your rights and represent your interests. Contact us today to schedule a complimentary consultation and rest assured knowing that no fees will be charged unless money is recovered.