Securities Arbitration Lawyers BlogArizona LPL Financial Broker Dominic T. DeBruin Under Investigation After FINRA Bar
Silver Law Group is investigating former Arizona-based LPL Financial LLC (CRD# 6413) broker Dominic T. DeBruin (CRD# 2788196) after FINRA permanently barred the broker.
According to DeBruin’s FINRA BrokerCheck report, FINRA permanently barred DeBruin from acting as a broker or otherwise associating with firms that sell securities to the public.
According to the FINRA BrokerCheck report, DeBruin, without admitting or denying the findings, consented to FINRA entry of findings that he refused to provide information and documents and to appear for on-the-record testimony as requested by FINRA.
According to the FINRA BrokerCheck report, DeBruin reported that he was under internal review for depositing client’s funds which were related to potential private securities transactions undisclosed to the firm into a bank account DeBruin controlled. FINRA then began an investigation into the purported misconduct reported in the Form U5 and requested DeBruin to provide information and documents and to appear for on-the-record testimony.
Between 2009 and 2014, DeBruin had four financial compromises in which there was either a settlement, satisfaction or release from the financial obligation.
DeBruin has bounced around a few times in his securities career. LPL Financial employed him from October 2012 to October 2016 in its Mesa, Arizona branch. Waddell & Reed, Inc. (CRD# 866) employed him from October 2005 to October 2012 in its Scottsdale, Arizona branch. Prior to his employment at those two firms, DeBruin was employed by six other firms over the course of ten years. FINRA has expelled two of those prior firms.
FINRA arbitration is a fast, efficient way to recover your lost investment funds due to unauthorized trading. We work on a contingency fee basis, meaning you pay us nothing unless we win and recover money for you.
If you have invested with Dominic T. DeBruin and LPL Financial or Waddell & Reed and have lost money doing so, you may be able to recover some or all of your losses. Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.
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.