Securities Lawyers Blog
The investment fraud lawyers of Gana Weinstein LLP are investigating the employment termination filed with The Financial Industry Regulatory Authority (FINRA) by LPL Financial LLC (LPL) involving broker Kevin Kuhlow (Kuhlow) out of the firm’s Los Gatos, California office. According to BrokerCheck records Kuhlow has been subject to seven customer complaints and two financial disclosures.
According to LPL, the firm terminated Aguilar in February 2016 after alleging his conduct included unapproved investments in violation of firm policy. The providing of loans or selling of notes and other investments outside of a brokerage firm constitutes impermissible private securities transactions – a practice known in the industry as “selling away”.
Subsequently, in March 2016, FINRA brought a regulatory action and barred Kuhlow from the industry. (FINRA No. 2016048430801). FINRA alleged that Kuhlow consented to the sanction that he refused to produce documents and information requested by FINRA in connection with its investigation into the allegations that he had violated LPL’s policies by directing clients to an unapproved investment.