Mark Lamkin, Former LPL Financial Broker Allegedly Received Undue Compensation

The broker is currently being an investigation by the Kentucky Department of Financial Institutions for receiving undue compensation

Did you lose money investing with Mark Lamkin? Contact Sonn Law Group today or call 866–827–3202 to schedule a free consultation on your case. Under FINRA Rules, member firms are responsible for supervising the activity of their brokers and may be liable for misconduct, and you may be able to recover your investment through FINRA arbitration.

Mark Lamkin (CRD# 2121510) is a broker and investment advisor. Since December 2018, he has been a registered representative with Calton & Associates, Inc., based in Louisville, Kentucky.

Previously, Mr. Lamkin was registered with LPL Financial; he was discharged in August 2018 following allegations that he benefitted from loans from Firm customers, failed to disclose and inadequately disclosed outside business activities, and personally engaged in and solicited other investors to participate in private investments without obtaining Firm approval. Mr. Lamkin denies the allegations.

In May 2019, the Public Protection Cabinet Department of Financial Institutions for the Commonwealth of Kentucky initiated an investigation into Mr. Lamkin alleging that he received compensation for broker-dealer and advisory services that he was not entitled to receive. The regulatory action is still pending and Mr. Lamkin has requested a hearing, according to his BrokerCheck report.

The report also contains five other disclosures, three of which are customer disputes. The most recent, filed April 1, 2019, was denied. The other two, one from January 2019 and the other from August 2018. According to comments included with the disclosure, the earlier of the two disputes was filed “seven years after my last personal communication with the customer,” while the second was settled by LPL without Mr. Lamkin’s participation.

Under FINRA Rules, member firms are responsible for supervising the activity of their brokers and may be liable for misconduct. If you lost money investing with LPL Financial or Mark Lamkin, you may be able to recover all or part of your investment through FINRA arbitration.

Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive misappropriated funds, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.