Investors apparently complained about securities broker James Robert Ptacek Jr. (also known as Jim Ptacek) [CRD: 1959049, Willoughby Hills, Ohio], given the disclosures located on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Ptacek worked for LPL Financial LLC from February 14, 2018, to November 14, 2024. Investors are encouraged to continue reading to learn more about the disclosures involving Ptacek.
FINRA Sanctioned Jim Ptacek For Outside Business Activities
Evidently, on April 24, 2026, FINRA issued Case: 2024084141201 sanctioning James Ptacek. Specifically, Ptacek was fined $5,000 and suspended from associating with any FINRA member in all capacities for 45 calendar days. Notably, FINRA alleged that Ptacek engaged in undisclosed outside business activities in violation of FINRA Rules 3270 and 2010.
Details Of FINRA’s Allegations Against James Ptacek
According to FINRA, between January 2023 and June 2024, Ptacek allegedly served as a board member and treasurer for a streaming platform organized as a for-profit limited liability company while associated with LPL Financial LLC. FINRA stated that these activities fell outside the scope of his relationship with the brokerage firm and required prior written disclosure to the firm.
FINRA further alleged that Ptacek communicated with certain LPL Financial clients who invested in the company and participated in financial matters related to the outside business. Regulators contended that he did not provide written notice to LPL Financial before engaging in those activities. FINRA also alleged that Ptacek inaccurately answered at least one compliance questionnaire by indicating that he had no undisclosed outside business activities.
FINRA Rule Violations
FINRA Rule 3270 prohibits registered representatives from participating in outside business activities without first notifying their member firm in writing. FINRA Rule 2010 requires securities brokers to maintain high ethical standards. Ptacek accepted FINRA’s sanctions through a Letter of Acceptance, Waiver, and Consent without admitting or denying the findings.
Jim Ptacek Disclosed Unsuitable Recommendations Allegations By LPL Financial LLC Client
Additionally, a client of LPL Financial LLC disputed Ptacek’s sales practices by filing FINRA Arbitration No. 25-01263 on June 18, 2025. Allegedly, an investment recommendation made in 2018 did not align with the client’s investment objectives and risk tolerance. It appears that Ptacek allegedly caused the client to experience damages. As a result, the client seeks compensation from LPL Financial LLC or Ptacek in the amount of $100,000 in this ongoing matter.
James Ptacek Disclosed Omissions Allegations By FSC Securities Corporation Client
Also, a client of FSC Securities Corporation contested Ptacek’s sales practices by filing Civil Action No. CV02464820. Allegedly, Ptacek failed to properly transfer a fixed annuity account while also failing to advise the client regarding beneficiary options associated with the annuity. It appears that Ptacek allegedly caused the client to incur damages. Consequently, FSC Securities Corporation agreed to settle the matter on March 12, 2002, by paying the client $125,000.
Did You Sustain Losses Because Of Financial Advisor / Securities Broker Jim Ptacek?
Do you need clarity on any investment losses relating to James Ptacek? You should contact Soreide Law Group online or at (888) 760-6552. Speak with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for hundreds of individuals throughout the United States. Also, our securities lawyers represent investors on a contingency fee basis and advance all costs. Ptacek and brokerage firms Ptacek worked for deny accusations of sales practice violations.
