CUSTOMER CLAIMS THAT FORMER FINANCIAL ADVISOR CONCENTRATED ASSESTS IN A VARIABLE ANNUITY AND MISREPRESENTED SURRENDER CHARGE. ACTIVITY PERIOD 6/13/00 TO 10/29/14. INVESTMENT FEES WERE PAID BUT NOT EARNED, AND THAT TAX EXEMPT BONDS WERE NOT APPROPRIATE.

$125,000.00

$40,000.00

INVESTOR LOANED DAVID LISNEK FUNDS AND THOSE FUNDS HAD NOT BEEN RETURNED. INVESTOR'S ATTORNEY ALSO ALLEGES TAX RAMIFICATIONS AND COSTS TO WITHDRAWAL FUNDS.

$115,000.00

$111,038.87

STATE OF ILLINOIS, ILLINOIS SECURITIES DEPARTMENT

FRAUD BASED ON OFFER AND SALE OF UNREGISTERED SECURITIES

Stipulation and Consent

Censure

Prohibition

Revocation

FINRA

FINRA RULES 2010, 8210: LISNEK FAILED TO PRODUCE INFORMATION REQUESTED BY FINRA WITH RESPECT TO ITS INVESTIGATION. DURING THE COURSE OF AN INVESTIGATION INTO ALLEGATIONS THAT LISNEK CONVERTED CUSTOMER FUNDS, BROKERED A TRANSACTION BETWEEN CUSTOMERS WITHOUT HIS MEMBER FIRM'S KNOWLEDGE AND FAILED TO DISCLOSE FEDERAL TAX LIENS, FINRA REQUESTED THAT HE PROVIDE A WRITTEN STATEMENT. LISNEK, VIA ELECTRONIC MAIL, PROVIDED A PARTIAL RESPONSE TO FINRA'S REQUEST. HOWEVER, AFTER FURTHER REQUEST FOR LISNEK TO PROVIDE A COMPLETE RESPONSE, AS TO ALL OF THE ALLEGATIONS, HE FAILED TO RESPOND.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

1/29/2014

WITHOUT ADMITTING OR DENYING THE FINDINGS, LISNEK CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS; THEREFORE, HE IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY.

FINANCIAL EXPLOITATION OF THE ELDERLY

Convicted

INVESTOR LOANED DAVID LISNEK FUNDS AND THOSE FUNDS HAD NOT BEEN RETURNED. ACTIVITY PERIOD WAS APRIL 2010 UNTIL MAY 16, 2014.

$80,000.00

$156,567.03

LPL FINANCIAL LLC

Discharged

REPRESENTATIVE ACCEPTED A LOAN FROM A CLIENT, AND ADMITTED TO BOTH ACCEPTING CASH FROM A CLIENT FOR WHICH HE WAS UNABLE TO PROVIDE AN ACCOUNTING AS WELL AS FACILITATING A PRIVATE SECURITIES TRANSACTION.