History Of Larry Bowman
Bowman first became registered with FINRA as a GSR in June 1993. In June 2018,
Bowman became registered as a GSR through his association with Heritage Financial
Systems, Inc. (n/k/a Heritage Financial Systems, LLC) (BD No. 133019). On December
24, 2019, the firm filed a Uniform Termination Notice for Securities Industry
Registration (Form U5) terminating Bowman’s association, stating that Bowman was
permitted to resign after the firm “discovered that an unauthorized email account was
created for Mr. Bowman.”
Bowman is not currently registered or associated with a FINRA member firm, but
remains subject to FINRA’s jurisdiction pursuant to Article V, Section 4(a) of
FINRA’s By-Laws. Respondent does not have any relevant disciplinary history.
Larry Bowman Report
This matter originated from a Form U5 filing.
FINRA Rule 3270 provides, in relevant part, that, “frilo registered person may be an
employee, independent contractor, sole proprietor, officer, director or partner of another
person, or be compensated, or have the reasonable expectation of compensation, from
any other person as a result of any business activity outside the scope of the relationship
with his or her member firm, unless he or she has provided prior written notice to the
member, in such form as specified by the member.” A violation of FINRA Rule 3270
also constitutes a violation of FINRA Rule 2010.
During the relevant period, Heritage Financial Systems’ written supervisory procedures
prohibited registered representatives from accepting compensation as a result of any
business activity outside the scope of employment without providing written notice to the
firm. Bowman signed a compliance questionnaire on December 11, 2018 indicating that
he had not engaged in any outside business activity.
Read about: Heritage Financial Services
From October 2018 through December 2019, Bowman acted as a consultant and
conducted fmancial modeling and analysis outside the scope of his relationship with
Heritage Financial Services for three different companies. He was paid $18,750 for his
work. Bowman did not provide prior written notice of his outside business activities to
Therefore, Respondent violated FINRA Rules 3270 and 2010.
Penalties, Punishments & Sanctions
■ a 45-calendar day suspension from associating with any FINRA member in all
■ a $5,000 fine
The fine shall be due and payable either immediately upon reassociation with a member
firm or prior to any application or request for relief from any statutory disqualification
resulting from this or any other event or proceeding, whichever is earlier.
Respondent specifically and voluntarily waives any right to claim an inability to pay, now
or at any time after the execution of this AWC, the monetary sanction imposed in this
Respondent understands that if he is barred or suspended from associating with any
FINRA member, he becomes subject to a statutory disqualification as that term is
defined in Article III, Section 4 of FINRA’s By-Laws, incorporating Section 3(a)(39) of
the Securities Exchange Act of 1934. Accordingly, he may not be associated with any
FINRA member in any capacity, including clerical or ministerial functions, during
the period of the bar or suspension. See FINRA Rules 8310 and 8311.
Larry Bowman Review
Between October 2018 and December 2019, while he was associated with Heritage
Financial Systems, Bowman engaged in three outside business activities for which he
received compensation without providing the firm with prior written notice. Bowman
thereby violated FINRA Rules 3270 and 2010.
Who is the Financial Adviser?
A financial adviser or advisor is a professional who offers financial services to clients based on their financial situation. In several countries, financial advisors have to finish specific training and register with a regulatory body to provide advice.
How To Spot A Fraud Finance Advisor (Infographic)
Help For Victims Of Larry Bowman
If you have lost funds because of misrepresentation, unsuitable investment, or unsuitable investment strategy from Larry Bowman. Then you can take legal action and get justice. Fraud, Malpractice & dereliction of duty should not be taken lightly, especially in this industry. We highly suggest that you notify authorities or seek legal action if your financial advisor or brokerage firm fails to abide by FINRA’s rules are regulations.
Financial advisors are regulatory & legally obligated to suggest (recommend) the most suitable investments/investment strategies to their clients. Their suggestions should have their client’s best interests and should be appropriate for their client’s goals and needs. Similarly, the brokerage firm which hires financial advisors also has a regulatory & legal obligation to keep a close watch and supervise their Financial Advisors’ practices & behavior. They need to make sure that the financial advisor is not being manipulative or having an unreasonable bias towards certain investments. If the financial advisor and/or the brokerage firm breaches these duties, then the client/customer may be entitled to a full or partial recovery of their losses.
Financial advisors need to have the interest of their clients when giving suggestions related to investments and investment strategies. Reasonable basis suitability requires the advisor to do their best to analyze & identify the risks and rewards associated with their suggested investment and/or investment strategy.
Larry Bowman has been involved in fraudulent activities and is an unsafe professional entity. We strongly recommend you avoid any association with such a shady figure.
- Shady Activity
- Swindling Activity Reported By Clients
- Under Govt. Organization's Radar
- High Risk of Fraud