Jon Cox of LPL Barred From Industry | Cold Spring Advisory Group

Jon Cox of LPL Barred From Industry

April 6, 2015

The Financial Industry Regulatory Authority (FINRA) issued a default decision on April 1, 2015 to bar Jon Cox from the securities industry after he failed to respond to multiple requests for information. Mr. Cox was with LPL Financial from May 2001 until he was terminated by the firm in January, 2014 for violating the firm's policy regarding outside business activities.

FINRA opened an investigation into whether Mr. Cox engaged in unauthorized outside business activities after LPL filed a U5 form terminating Mr. Cox's registration with FINRA. Between August 2014 and October 2014, FINRA sent three separate written requests for information to Mr. Cox regarding the reason LPL terminated his employment. He did not respond to any of the written requests, nor did he file an answer to a Complaint FINRA's Department of Enforcement filed against him.

FINRA Rule 8210 requires its members and people associated with a member firm to "provide information orally, in writing, or electronically (if the requested information is, or is required to be, maintained in electronic form) and to testify at a location specified by FINRA staff, under oath or affirmation administered by a court reporter or a notary public if requested, with respect to any matter involved in the investigation, complaint, examination, or proceeding." The rule further gives FINRA staff the right to "inspect and copy the books, records, and accounts of such member or person with respect to any matter involved in the investigation, complaint, examination, or proceeding that is in such member's or person's possession, custody or control."