FINRA Disciplinary Action: Former LPL Representative Penalized for Misconduct in Document Signing Practices

The Financial Industry Regulatory Authority (FINRA) has taken action against Brenton Charles Schmidt, a former representative of LPL Financial LLC, who allowed his business partner to sign documents on behalf of customers. According to FINRA, Schmidt then signed his own name on the documents, which included essential firm records like new account applications and money transfer forms. While no complaints from customers were mentioned, and the transactions were authorized, Schmidt has consented to FINRA’s findings without admitting or denying them. Currently, he is registered with Cetera. More details can be found in the full report by ThinkAdvisor.