According to his Letter of Acceptance, Waiver and Consent (“AWC”) with FINRA, Robert Lappin agreed to a 3-month suspension from the securities industry, a fine of $5,000, and was ordered to pay restitution in excess of $26,000. From October 2012 to April 2014, Lappin effected twenty-two separate Unit Investment Trust transactions for five customers. These investments were not suitable for the customers in question and due to the frequency of the transactions the customers incurred substantial fees as detailed in AWC 2015044670801.
Robert Lappin was a registered representative of Wedbush Securities, Inc. from June 2006 through June 2011, of New England Securities from June 2011 through January 2015, and of MetLife Securities, Inc. from January 2015 through February 2015.
Robert Lappin’s FINRA BrokerCheck report reveals that he has been the subject of 5 FINRA customer complaints.
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