{"id":10821,"date":"2022-09-27T12:05:27","date_gmt":"2022-09-27T16:05:27","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=10821"},"modified":"2022-09-27T12:05:27","modified_gmt":"2022-09-27T16:05:27","slug":"finra-bars-broker-michael-beebe-following-oba","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-bars-broker-michael-beebe-following-oba\/","title":{"rendered":"FINRA Bars Broker Michael Beebe Following OBA"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10822 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/09\/Michael-Beebe.png\" alt=\"Michael Beebe (Michael Douglas Beebe, CRD# 2231851) is a former broker and investment advisor whose most recent employment was with LPL Financial LLC (CRD# 6413) of Webster, NY. His previous employers include Nationwide Securities, LLC (CRD# 11173) of Elbridge, NY, 1717 Capital Management Company (CRD# 4082) and MML Investors Services, Inc. (CRD# 10409) of Rochester, NY.\u00a0 He has 27 years in the industry, beginning in 1992.  A customer dispute filed on 5\/21\/2021 alleged that a promissory note investment Beebe recommended had a conflict of interest. The customer believed that the investment was a scam, was not in her best interests, and that it was from a company that Beebe was also personally involved with. The claim was settled for the $50,000 in damages that the customer requested.  This dispute led to LPL Financial\u2019s dismissal of Beebe on 9\/21\/2021 for allegations that he, \u201cparticipated in private securities transaction without prior disclosure to, or approval from Firm.\u201d\u00a0 These dealings are also known as \u201coutside business activities,\u201d or OBA. Most broker-dealers require written permission for their brokers to participate in most types of work activities outside of their firm employment.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/09\/Michael-Beebe.png 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2022\/09\/Michael-Beebe-180x120.png 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Michael Beebe (Michael Douglas Beebe, CRD# <a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/2231851\" target=\"_blank\">2231851<\/a>) is a former broker and investment advisor whose most recent employment was with LPL Financial LLC (CRD# 6413) of Webster, NY. His previous employers include Nationwide Securities, LLC (CRD# 11173) of Elbridge, NY, 1717 Capital Management Company (CRD# 4082) and MML Investors Services, Inc. (CRD# 10409) of Rochester, NY. He has 27 years in the industry, beginning in 1992. <a href=\"https:\/\/www.silverlaw.com\/blog\/finra-bars-broker-michael-beebe-following-oba\/#more-10821\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Beebe (Michael Douglas Beebe, CRD# 2231851) is a former broker and investment advisor whose most recent employment was with LPL Financial LLC (CRD# 6413) of Webster, NY. His previous employers include Nationwide Securities, LLC (CRD# 11173) of Elbridge, NY, 1717 Capital Management Company (CRD# 4082) and MML Investors Services, Inc. (CRD# 10409) of Rochester, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[580],"tags":[],"class_list":["post-10821","post","type-post","status-publish","format-standard","hentry","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FINRA Bars Broker Michael Beebe Following OBA &#8212;<\/title>\n<meta name=\"description\" content=\"Michael Beebe is a former broker and investment advisor whose most recent employment was with LPL Financial LLC of Webster, NY.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/finra-bars-broker-michael-beebe-following-oba\/\" \/>\n<meta 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