The Financial Industry Regulatory Authority barred former LPL Financial LLC registered representative Rudy Anguiano from associating with any FINRA member firm in any capacity after finding that he converted USD 1.731 million from two customers. Anguiano transferred the money without authorization to a bank account belonging to a limited liability company that he solely owned and controlled. LPL has reimbursed both customers in full. Between July 2023 and August 2025, Anguiano transferred USD 1.528 million from one customer in five transactions and USD 203,000 from another customer in five transactions. FINRA found that the conduct violated rules governing the improper use of customer funds and standards of commercial honor. Anguiano agreed to the bar without admitting or denying the findings.
US Financial Industry Regulatory Authority bars former broker over USD 1.731 million conversion of customer funds
The Financial Industry Regulatory Authority barred former LPL broker Rudy Anguiano for transferring USD 1.731 million from two customers to his company’s bank account without authorization. LPL reimbursed both customers, and Anguiano settled without admitting or denying FINRA’s findings.