Luke Ellis Subject of North Carolina Regulatory Action

Luke Ellis (CRD #: 7253159), a broker registered with LPL Financial, has been fined by the State of North Carolina, according to his BrokerCheck record, accessed on March 2, 2025. Read on if you have questions about his alleged conduct as a broker.

North Carolina Regulatory Action

On January 8, 2025, the State of North Carolina Department of the Secretary of State, Securities Division filed a regulatory action against Luke Ellis.

The Securities Division alleged that he failed to comply with the registration requirements of the North Carolina Securities Act by transacting business as an investment adviser representative between approximately November 2021 through February 2024 without being registered in the state.

The Securities Division ordered Luke Ellis to cease and desist from future violations of Section 78C-16(a)(1) of the North Carolina General Statutes and fined him $2,500.

North Carolina General Statutes

Section 78C-16(a)(1) of the North Carolina General Statutes prohibits individuals from transacting business as an investment adviser in North Carolina without being registered with the state.

FINRA Rule 2010

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

Blue sky laws

Blue sky laws are state-level regulations that provide investors with an added layer of protection against securities fraud. They typically also define the registration requirements for brokers and investment advisers, as well as what types of investments must register with the state securities board.

Background Information

Luke Ellis has passed the following exams:

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

Luke Ellis is a registered broker in all 50 states as well as the District of Columbia, Puerto Rico, and the Virgin Islands. He is also a registered investment adviser in North Carolina, South Carolina, and Texas.

He has also worked for Equitable Advisors (CRD#:6627).

Kurta Law Can Help

If you worked with Luke Ellis and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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 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.