Kiran Devarapalli Terminated by LPL Financial

Kiran Devarapalli (CRD #: 6416586), a broker registered with The Leaders Group, is the subject of an investor dispute. This termination disclosure appears on his BrokerCheck record, accessed on March 6, 2024. Keep reading if you have questions regarding his alleged conduct. 

Termination 

On February 2, 2024, LPL Financial fired Kiran Devarapalli following allegations that he participated in an outside business activity without notice to and approval from the firm. 

He has one outside business on his detailed BrokerCheck record: Ciro Capital. 

FINRA Rule 3270 – Outside Business and Selling Away

FINRA Rule 3270 requires brokers to inform their firm of any outside business activities or any investments sold away from the firm. The brokerage firm may prohibit the activity if the firm believes the proposed activity may compromise the broker’s duties. Firms may also require brokers to seek approval of any outside business.

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Outside businesses may violate this rule. 

Background Information 

Kiran Devarapalli has passed the following exams:

• Series 66 Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination

He is a registered broker in seven states and is a registered investment adviser in New Jersey and Texas. 

During his eight years of experience, he has registered with the following firms: 

• LPL Financial (CRD #: 6413) 
• People’s United Advisors (CRD #: 292454) 
• People’s Securities (CRD #: 13704) 
• Morgan Stanley (CRD #: 149777) 
• Credit Suisse Securities (CRD #: 816) 

Kurta Law Can Help 

If you have worked with Kiran Devarapalli and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.