Published On: February 3, 2016

Stoltmann Law Offices is investigating Brian Lewis Pittman, who recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). Pittman was accused of participating in private securities transactions, which were not approved by his then FINRA member firm. This is commonly referred to as “selling away” and is when a broker recommends or sells a security that is not held or offered by his member firm. It is used as a tactic to generate large commissions for the broker. It is against securities rules and regulations. Allegedly, on June 1, 2013, Pittman participated in a private securities transaction by referring a customer of an affiliated firm, to invest $100,000 in a promissory note by a petroleum company. He received compensation from the company of approximately $4,000. For this, he was fined $10,000 and suspended for six months from the industry.

According to his online BrokerCheck report, Pittman was registered with Robert W. Baird in Milwaukee, Wisconsin from December 1997 until November 2001, Citigroup Global Markets in New York, New York from November 2003 until February 2006, Suntrust Investment Services in Sarasota, Florida from March 2006 until July 2007, Pinnacle Brokerage Service in Charlotte, North Carolina from July 2007 until August 2007, JVB Financial Group in Boca Raton, Florida from August 2007 until October 2007, Bonds.Com in Naples, Florida from October 2007 until February 2010, Westport Resources Investment Services in Naples from February 2010 until October 2012 and Sabadell Securities in Miami, Florida from October 2012 until February 2014. He is not licensed within the industry and has one customer dispute against him.

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