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James Ptacek Fired from LPL Financial Over Alleged Private Securities Transactions

James Ptacek (CRD #: 1959049), a broker formerly registered with LPL Financial, has been fired from that firm, according to his BrokerCheck record, accessed on December 6, 2024. If you want to know more about his alleged conduct as a broker, read on.

Termination from LPL Financial

On November 13, 2024, James Ptacek was fired from LPL Financial for allegedly failing to disclose and receive approval for certain outside business activities (OBAs) and private securities transactions.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to disclose any business activities they engage in outside their firm, as well as any compensation they may receive from these activities.

FINRA Rule 3280

FINRA Rule 3280 requires brokers to provide written notice to their firm before engaging in private securities transactions.

Outside Business Activities

James Ptacek discloses the following outside business activities in his detailed BrokerCheck report:

  • Ta-Check Financial, selling insurance, providing tax preparation services, and working as a Registered Investment Advisor (RIA)
  • Ptacek Real Estate, serving as its president and landlord for a rental property
  • P&M, a business entity created for tax/investment purposes
  • Sharaba’s Financial Services, an entity related to LPL Financial but no longer registered with FINRA or the SEC

Background Information

James Ptacek has passed the following exams:

  • Securities Industry Essentials Examination – SIE
  • General Securities Representative Examination – Series 7
  • Investment Company Products/Variable Contracts Representative Examination – Series 6
  • Uniform Combined State Law Examination – Series 66
  • Uniform Securities Agent State Law Examination – Series 63

He previously worked for the following firms:

  • LPL Financial (CRD#:6413)
  • SII Investments (CRD#:2225)
  • FSC Securities (CRD#:7461)
  • Royal Alliance Associates (CRD#:23131)
  • Mutual Service Corporation (CRD#:4806)
  • NML Equity Services (CRD#:2881)
  • Kidder, Peabody & Company (CRD#:7613)

Kurta Law Can Help

If you worked with James Ptacek and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.