FINRA Suspends Steven Blanchard

Steven Blanchard (CRD #: 6042470), a broker formerly registered with LPL Financial, is currently subject to two FINRA suspensions, according to his BrokerCheck record, accessed on March 5, 2025. Read on to learn more about his alleged conduct as a broker.

2025 FINRA Suspension

On January 6, 2025, Steven Blanchard received a Letter of Suspension from FINRA alleging that he failed to comply with an arbitration award or settlement agreement or failed to adequately respond to a request for information about the status of his compliance.

This allegation was made in connection with an arbitration award dated October 1, 2024. This dispute alleged breach of contract. Claimants were awarded $70,246.24 in compensatory damages and $51,313.10 in attorneys’ fees. You can read the arbitration award here.

FINRA suspended Steven Blanchard on January 6, 2025. His suspension will continue until the required payment is made or the debt is discharged.

FINRA Rule 2010

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

FINRA Rule 9554

FINRA Rule 9554 penalizes brokers who fail to comply with arbitration awards or settlements by suspending or canceling their registration. Brokers have 21 days to request a hearing before their suspension or cancellation becomes final.

FINRA By-Laws

Article VI, Section 3 of FINRA By-Laws allows FINRA to suspend or cancel the membership of any member who fails to comply with arbitration awards or settlement agreements.

2024 FINRA Suspension

On December 23, 2024, Steven Blanchard consented to the entry of findings that he allegedly submitted falsified documents to Raymond James Financial Services and later to FINRA.

According to a Letter of Acceptance, Waiver & Consent (AWC), Raymond James Financial Services allegedly began an investigation in January 2023 as to whether a firm client with a personal relationship to Steven Blanchard had submitted a fabricated offer of employment in connection with a mortgage loan application.

Steven Blanchard allegedly provided the firm with falsified documents indicating that he had hired this individual, including an offer letter and emails purportedly sent using the firm’s email system. The firm allegedly did not find records of these emails being sent using its email system.

He allegedly also falsified emails purporting to be between the individual and the mortgage company, forwarded via Steven Blanchard’s firm email account.

Between August 2023 and February 2024, Steven Blanchard allegedly provided false responses to FINRA requests for information and documents related to these allegations.

He allegedly claimed that his offer letter was genuine and provided other fabricated documents to FINRA, including documents claiming to show that the individual had provided marketing services to the firm. The AWC alleged that he later admitted to these falsifications.

The AWC concluded that these allegations constituted violations of FINRA Rules 8210 and 2010.

FINRA Rule 8210

FINRA Rule 8210 requires members to supply records, information, and testimony upon request by FINRA.

Sanctions

Steven Blanchard consented to the following sanctions:

• Two-year suspension from associating with FINRA members
• $15,000 fine

His suspension began on January 6, 2025, and will end on January 5, 2027. You can read the AWC here.

Termination from Raymond James Financial Services

On February 24, 2023, Steven Blanchard was fired from Raymond James Financial Services and Raymond James Financial Services Advisors following allegations that he conveyed an offer of employment to a third party using branch letterhead without authorization.

Background Information

Steven Blanchard has passed the following exams:

• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Combined State Law Examination – Series 66
• Uniform Securities Agent State Law Examination – Series 63

He has also worked for the following firms:

• LPL Financial (CRD#:6413)
• Raymond James Financial Services (CRD#:6694)
• TIAA-CREF Individual & Institutional Services (CRD#:20472)
• M&T Securities (CRD#:17358)
• AXA Advisors (CRD#:6627)

Kurta Law Can Help

If you worked with Steven Blanchard 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.