SEC bars ex-LPL rep over variable annuity sales

July 10, 2018 by InvestmentNews

The Securities and Exchange Commission has barred a former LPL rep, Roger Zullo, based on a charge he sold unsuitable and “disproportionately large” variable annuities to his clients.

Mr. Zullo, a resident of Massachusetts, was discharged by LPL Financial in December 2016 after the state’s securities regulator filed an administrative complaint against the broker, alleging fabrication of client suitability profiles and recommendation of unsuitable variable annuities.

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Originally Posted at InvestmentNews on July 9, 2018 by InvestmentNews.