Patrick Jennings Latta (CRD #4395019) Has Customer Dispute Disclosures on FINRA BrokerCheck

Patrick Jennings Latta (CRD #4395019) was previously registered as a broker. We reviewed his BrokerCheck report on April 14, 2026. It reflects two pending customer disputes. If you worked with Patrick Latta and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Patrick Latta’s FINRA BrokerCheck Report reflects two pending customer dispute disclosures. Summaries of the disputes are below:

On February 19, 2026, a customer alleged improper distribution of half of an IRA’s assets after the client’s death in September 2025. Patrick Latta’s FINRA BrokerCheck Report states the assets were distributed to two named beneficiaries by the custodian. The claimant also alleged the client meant to update the beneficiaries to a single trust beneficiary and had submitted estate and trust documents in 2022 and 2023. BrokerCheck lists the product type as a mutual fund and the alleged damages as $443,582.65.

A second pending dispute was received on February 5, 2026. Patrick Latta’s FINRA BrokerCheck Report says the claimant alleged breach of fiduciary duty, negligence, failure to supervise, and rule violations tied to the same IRA distribution. That matter was filed in FINRA arbitration on January 7, 2026. BrokerCheck lists the product type as a mutual fund and the alleged damages as $500,000.00.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for a recommendation. It also requires a broker to consider the customer’s investment profile before recommending a transaction or strategy.

Rule Summary #2: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 requires firms to maintain a supervisory system that is reasonably designed to achieve compliance. Disputes about account handling or beneficiary-related instructions can raise questions about how the firm supervised the activity.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Patrick Latta:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Patrick Latta has also passed Series 6, Series 65, and Series 63.

Was previously registered with firms that include LPL Financial LLC, Valic Financial Advisors, Inc., and The Variable Annuity Marketing Company.

Kurta Law Can Help

If you have worked with Patrick Latta and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Unsuitable Investments

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.