Linda Sokol Francis Barred by FINRA

Linda Sokol Francis (CRD #: 811073), a broker formerly registered with LPL Financial, has been barred by FINRA, according to her BrokerCheck record, accessed on May 10, 2025. Keep reading if you have questions regarding her alleged conduct. 

Bar by FINRA

On March 25, 2025, Linda Sokol Francis consented to the entry of findings that she allegedly refused to provide documents and information requested as part of a FINRA investigation.

According to a Letter of Acceptance, Waiver & Consent (AWC), LPL Financial filed a Form U5 (Uniform Termination Notice for Securities Industry Registration) allegedly stating that Linda Sokol Francis was fired from the firm for exercising her discretion in certain accounts without written authorization.

The AWC concluded that these alleged refusal to provide information constituted a violation of FINRA Rules 8210 and 2010.

FINRA Rule 8210

FINRA Rule 8210 requires members to provide documents, information, and testimony upon request by FINRA.

FINRA Rule 2010

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

Sanctions

Linda Sokol Francis consented to a permanent bar by FINRA. It took effect on March 25, 2025. You can read a copy of the AWC here.

Termination from LPL Financial 

On May 23, 2024, LPL Financial fired Linda Sokol Francis following allegations that she exercised discretion in brokerage accounts without written authorization. 

FINRA Rule 3260

FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.

Background Information 

Linda Sokol Francis has passed the following exams: 

• Investment Company Products/Variable Contracts Representative Examination – Series 6TO
• General Securities Representative Examination – Series 7TO
• Direct Participation Programs Representative Examination – Series 22TO
• Securities Industry Essentials Examination – SIE
• Registered Representative Examination – Series 1
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63 

She has registered with two firms: LPL Financial (CRD #:6413) and Waddell & Reed (CRD#:866). 

Kurta Law Can Help 

If you have worked with Linda Sokol Francis and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.