Ronald Whittingham Received Sanctions From Indiana Regulator, FINRA

Soreide Law Group is currently investigating potential claims on behalf of investors who may have suffered losses due to the actions of securities broker Ronald Leonard Whittingham (also known as Ron Whittingham) [CRD#: 4175525, Chicago, Illinois]. Whittingham joined Cetera Advisors LLC on February 28, 2019. Prior to his current registration, he worked for LPL Financial LLC from April 28, 2016, to March 7, 2019. Whittingham disclosed sanctions by the Indiana Commissioner of Insurance and FINRA. Here’s more on those disclosures.

Indiana Commissioner Of Insurance Sanctioned Whittingham

Evidently, on August 16, 2022, the Indiana Commissioner of Insurance issued Case: 21124-AG21-1208-235 sanctioning Ronald Whittingham. The regulator included a stipulation that Mr. Whittingham cannot reapply for licensure for a ten-year period.

FINRA Sanctioned Ronald Whittingham For Falsification Of Documents

Notably, FINRA issued Case: 2017055447502 on October 28, 2021. Supposedly, Whittingham falsified variable annuity replacement disclosure forms.

The regulatory action taken by FINRA against Ronald Whittingham, associated with LPL Financial LLC at the time of the activity, arose from his purported falsification of variable annuity replacement disclosure forms. Whittingham supposedly falsely claimed stepped-up death benefits as a suitability factor for variable annuity exchanges.

FINRA contended that he advised clients to remove benefits before the exchanges, unbeknownst to his firm, thereby misrepresenting the advantages of the transactions. The findings also detailed that Whittingham's actions led to the firm maintaining inaccurate books and records. The final resolution included an Acceptance, Waiver, and Consent (AWC), resulting in a three-month suspension from November 15, 2021, to February 14, 2022, and a financial penalty of $5,000, which he paid on November 8, 2021.

Seek Legal Guidance

Did you experience losses because of Ronald Whittingham? If so, reach out to Soreide Law Group or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Whittingham and brokerage firms he worked for deny accusations of sales practice violations.