Former LPL broker James Bylenga Barred by FINRA

James Bylenga (CRD#: 705143) is a previously registered broker and investment advisor. From June of 2016 to August of 2018, Mr. Bylenga was employed at LPL Financial in Portage, Michigan.

Previously, this broker was also associated with Comerica Securities and Robert W. Baird & Co.

On April 5th, 2019, FINRA barred James Bylenga from the industry after he refused to produce documents and information related to an investigation into allegations that he improperly received a loan from a customer (Letter of Acceptance, Waiver and Consent No. 2018060282201).

Investigation: Former LPL Financial Broker James Bylenga

In 2018, James Bylenga was terminated by LPL Financial after the company determined in an internal review that he had violated firm policies. Specifically, LPL Financial found that Mr. Bylenga improperly received a loan from one of the firm’s clients. A personal representative of this customer eventually filed a complaint against Mr. Bylenga. BrokerCheck indicates that this complaint was settled in November of 2018 for $210,000 in compensation.

Registered financial advisors are required to cooperate with FINRA investigations. Under FINRA Rule 8210, the failure to do so can lead to sanctions, possibly including an indefinite bar from the industry. Without admitting or denying any wrongdoing in this case, former LPL Financial broker James Bylenga consented to FINRA’s findings and penalties.

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