Texas State Securities Board Revokes License of Lloyd J. Chappell

By Robert H. Rex, Esq.

On January 13, 2014, the Texas State Securities Board (TSSB) revoked the securities license of Lloyd J. Chappell. According to official records of the Financial Industry Regulatory Authority (FINRA), Chappell operated various businesses in the Dallas area, including:
  • Texas Financial Associates Insurance Agency Garland, Texas
  • Texas Financial Associates Garland, Texas
  • Guardian Life Ins Co Dallas, Texas
  • The Financial Process Group Austin, Texas
FINRA records indicate that Chappell was discharged by BFT Financial Group, LLC, on December 3, 2013, for contacting an investment company and pretending to be several customers to gain account information.
Chappell’s registration history per FINRA includes:
  • BFT Financial Group 8/2013-12/2013
  • Park Avenue Securities  1/2000-4/2013
According to FINRA’s allegations Chappell pretended to be several shareholders that were clients of Chappell’s previous firm in order to obtain information related to these shareholder’s accounts. In support of these efforts, Chappell impersonated these shareholders by altering his voice. When contacted by the TSSB about these impersonations, Chappell repeated denied doing so.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

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