FINRA

WITHOUT ADMITTING OR DENYING THE FINDINGS, ROSEBROUGH CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT HE ENGAGED IN OUTSIDE BUSINESS ACTIVITIES WITHOUT PROVIDING PRIOR WRITTEN NOTICE TO HIS MEMBER FIRM. ROSEBROUGH FORMED A LIMITED LIABILITY COMPANY WITH A COLLEAGUE, WAS A PARTNER OF THIS BUSINESS, AND SINCE ITS INCEPTION, HE HAS RECEIVED APPROXIMATELY $3,500 IN INCOME FROM THIS BUSINESS. ROSEBROUGH FORMED ANOTHER LIMITED LIABILITY COMPANY WITH A CUSTOMER OF THE FIRM AND WAS A PARTNER OF THIS BUSINESS. NEVERTHELESS, ROSEBROUGH DID NOT PROVIDE PRIOR WRITTEN NOTICE TO THE FIRM PRIOR TO ENGAGING IN EITHER OF THESE OUTSIDE BUSINESS ACTIVITIES, AND HE DID NOT NOTIFY THE FIRM THAT HE WAS ENGAGING IN THESE OUTSIDE BUSINESS ACTIVITIES UNTIL A LATER DATE. ADDITIONALLY, ROSEBROUGH COMPLETED A FIRM QUESTIONNAIRE IN WHICH HE ANSWERED "NO" TO THE QUESTION WHETHER HE HAD ENGAGED IN ANY OUTSIDE BUSINESS ACTIVITY, WHICH WAS NOT TRUE.

Acceptance, Waiver & Consent(AWC)

Civil and Administrative Penalty(ies)/Fine(s)

$5,000.00

Suspension

ANY CAPACITY

30 DAYS

3/2/2015

3/31/2015

SECURITIES AMERICA INC.

Permitted to Resign

FAILURE TO DISCLOSE THAT THERE WAS A FINRA SANCTION BEING DEVELOPED THAT REP WAS AWARE OF. DURING HIS EMPLOYMENT WITH HIS LAST FIRM HE FAILED TO DISCLOSE OBA'S.

LPL FINANCIAL LLC

Discharged

VIOLATION OF FIRM POLICY REGARDING OUTSIDE BUSINESS ACTIVITIES.