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Broker Bruce Amman Terminated After Private Securities Transactions

The Former LPL Financial Broker Was Suspended by FINRA

The Financial Industry Regulatory Authority (FINRA) has suspended former LPL Financial broker Bruce Amman after allegations that he participated in a private securities transaction without providing prior written notice to his employer. The broker was terminated from his employment with LPL Financial LLC in 2020 for “use of short-term mutual fund product switches in brokerage accounts.”

At Meyer Wilson, we represent investors who have suffered harm as a result of investment fraud and stockbroker misconduct. Our legal team has recovered hundreds of millions of dollars on behalf of aggrieved investors and works tirelessly to hold negligent brokerage firms accountable. 

If you or someone you know has suffered losses after investing with Bruce Amman or another broker accused of wrongdoing, contact our office at (800) 738-1960 for a free consultation.  

Alleged Misconduct Against Bruce Amman

According to BrokerCheck, Bruce Amman (CRD#: 2130243) has been suspended by FINRA after violating rules 3280 and 2010. A Letter of Acceptance, Waiver, and Consent (AWC), signed by the broker, indicates that between April 2018 and May 2019, he participated in a private securities transaction without providing prior written notice to the firm he was associated with. 

During that time, Amman was a registered broker with LPL Financial LLC. He was terminated from employment with the firm in June 2020 for use of short-term mutual fund product switches in brokerage accounts. Amman also has several tax lien disclosures on his report dating back to 2008 and two criminal cases involving shoplifting, providing false information to a police officer, and disturbing the peace.

FINRA Suspension

As a result of his violation of FINRA rules 3280 and 2010, Amman received a 12-month suspension and a $5,000 fine. The AWC indicates that he will be suspended from associating with any FINRA member in any capacity until May 1, 2023. 

The allegations include that he facilitated the investment of approximately $3.5 million into a private placement for an LPL customer without obtaining prior written consent from the firm. When asked whether he had participated in a private securities transaction on an annual questionnaire, he falsely answered “no.”

Individuals who have invested with Bruce Amman and suffered investment losses are strongly encouraged to contact an experienced investor claim attorney. Investors may have a claim for unsuitable recommendations, violation of state or federal securities laws, breach of fiduciary duty, or negligence. 

Did You Suffer Losses After Investing with Bruce Amman?

If you or a loved one sustained losses after investing with former LPL Financial broker Bruce Amman, contact our office at (800) 738-1960 for a free evaluation. All consultations are confidential and without pressure or obligation to retain our firm. Let us help fight to recover your losses. Call now to get started.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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