LPL Rep Faces 22-Month Suspension for Borrowing $50k from Clients without Disclosure

Former LPL Financial advisor Jacob Lee Harper faces a 22-month suspension and fine after secretly borrowing $50,000 from clients and failing to disclose outside securities accounts. Harper also provided false information to regulators. The loans violated Finra rules and standards, and Harper made misleading statements during the investigation. He was previously registered with DA Davidson.