Former head of Boston’s SEC office joins LPL Financial Holdings
David Bergers, former Director of the SEC's Boston Regional office, poses for a portrait. (Kayana Szymczak for the Boston Globe)
David Bergers, head of the Securities and Exchange Commission’s Boston office for the past seven years, has joined LPL Financial Holdings Inc., a large brokerage network that has struggled with regulatory and compliance problems.
He will become general counsel, replacing Stephanie Brown.
Bergers joins a long line of officials from the nation’s top securities watchdog who have left to work for the industry they once regulated. Boston-based LPL was recently fined $7.5 million by the Financial Industry Regulatory Authority, the industry’s self-regulatory body, for failing to properly retain broker e-mails.
LPL also recently named a new head of risk and compliance. Berger’s move was first reported by The Wall Street Journal.
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