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Michael Beebe Resigns from LPL Financial

Michael Beebe (CRD #: 2231851), a broker registered with LPL Financial, has been suspended by FINRA, according to his BrokerCheck record, accessed on June 22, 2022. This is not the only disclosure on his record – concerned brokers should keep reading.

On April 13, 2022, FINRA announced that Michael Beebe would be indefinitely suspended on May 9, 2022, following allegations that he failed to respond to FINRA requests for information. His suspension will convert to a bar on July 18, 2022, unless Michael Beebe responds to the FINRA request. FINRA Rule 8210 requires brokers to respond to requests for documents, information, or testimony.

Employment Separation

Michael Beebe voluntarily resigned from LPL Financial following allegations that he participated in a private securities transaction without approval from the firm, in violation of FINRA Rule 3280. This type of misconduct is also known as “selling away.”

Investor Dispute

On May 21, 2021, an investor alleged that Michael Beebe recommended she invest in a promissory note. The investor alleges a conflict of interest, since he was allegedly involved with the issuer of the promissory note. The investor further alleged the investment was a scam. The investor sought to recover $50,000 and the dispute settled for that amount.

Background Information

Michael Beebe has passed the following exams:

  • 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
  • Series 24 General Securities Principal Examination

Michael Beebe has worked for the following forms:

  • LPL Financial (CRD #: 6413)
  • Nationwide Securities (CRD # 11173)
  • 1717 Capital Management Company (CRD #: 4082)
  • MML Investors Services (CRD #: 10409)
  • Hornor, Townsend & Kent (CRD #: 4031)
  • MetLife Securities (CRD #: 14251)
  • Metropolitan Life Insurance Company (CRD #: 4095)

Kurta Law Can Help

If you worked with Michael Beebe 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.