(FINRA Case #2016051902901)
Robert Michael Bulloch (CRD #2541075, Raleigh, North Carolina) An AWC (Accept, Waiver & Consent) was issued in which Bulloch was censured and fined $10,000. Without admitting or denying the findings, Bulloch consented to the sanctions and to the entry of findings that he exercised discretion in customer accounts without having obtained prior written authorization from the customers to exercise discretion in their accounts, and without his member firm having approved the accounts for discretionary trading.
The findings stated that although Bulloch had discussed and agreed upon particular investment strategies with these customers, in some instances he exercised discretion and executed transactions in furtherance of those strategies without first speaking with the customers about the specific transactions.
Bulloch was discharged from LPL Financial LLC in November 2016 due to the allegations. He had worked for LPL Financial LLC since February 2010. Bulloch is currently employed by Infinity Financial Services.
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