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Brian Bates Allegedly Failed to Follow Instructions

Brian Bates (CRD #: 2318413), a broker registered with LPL Financial, was the subject of a recent dispute, according to his BrokerCheck record, accessed on May 2, 2023. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On February 13, 2023, an investor filed a dispute alleging that Brian Bates failed to follow instructions and placed him in investments he did not request between November 22, 2021, and February 10, 2023. This dispute was denied by the firm.

Investors should know, however, that firms don’t need to allow an outside review before denying disputes. Investors may still be able to recover their losses by seeking out FINRA arbitration after a denial.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. The firm must also approve the designation of an account as discretionary before this trading can occur. 

Background Information

Brian Bates has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Brian Bates is a registered broker in 11 states and a registered investment adviser in California and Texas.

He has also worked for the following firms:

  • PNC Investments (CRD#:129052)
  • PNC Managed Account Solutions (CRD#:110476)
  • BBVA Securities (CRD#:27060)
  • J.P. Morgan Securities (CRD#:79)
  • Chase Investment Services (CRD#:25574)
  • Foothill Securities (CRD#:1027)
  • CUE Financial Group (CRD#:21033)
  • Securities America (CRD#:10205)
  • Securities America Advisors (CRD#:110518)
  • SunAmerica Securities (CRD#:20068)
  • Waddell & Reed (CRD#:866)

Kurta Law Can Help

If you worked with Brian Bates and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.