According to a Financial Industry Regulatory Authority (FINRA) Letter of Acceptance, Waiver and Consent (AWC), Christopher Breland Kelly, a former registered representative with LPL Financial, was accused of borrowing $150,000 from husband and wife firm customers. Allegedly, on March 1, 2009, Kelly borrowed $150,000 from two customers, which is against securities rules and regulations. For this, he was suspended for four months and fined $10,000. He also allegedly participated in a private securities transaction when he sold a $150,000 investment in his investment advisory business. Breland was registered with Penn Capital Financial Services, Cohig & Associates, Gruntal & Co. Inc., Thos K. Wasserman & Assoc., Prudential Securities, Merrill Lynch, Banc of America and LPL Financial in Jupiter, Florida from December 2005 until April 2014. He has one customer dispute against him.
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