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The State of Minnesota Revokes Kyle Wittgren’s Securities and Insurance Licenses

Feb 22, 2022 Regulatory Action

Kyle Wittgren (CRD #: 6221630), securities and insurance licenses were revoked by the State of Minnesota, according to his BrokerCheck Record accessed on February 10, 2022. 

On January 28, 2022, the State of Minnesota stated in a disclosure that Kyle Wittgren's license revocation stems from allegations that he used dishonest and deceptive practices by:

  1. Creating fake annuity applications without the knowledge or consent of the applicants
  2. Misrepresenting information on annuity applications
  3. Falsifying application signatures in violation of Minnesota statutes

FINRA Bar

On December 27, 2021, Kyle Wittgren was barred by FINRA after allegedly refusing to appear for a FINRA on-the-record testimony related to a FINRA investigation based on allegations from NYLIFE.

You can read a copy of the bar here

Resignation Details

On April 1, 2021, Kyle Wittgren was permitted to resign from his position at NYLIFE Securities after allegedly signing clients' names without the clients' knowledge or consent. He allegedly submitted 13 unfunded variable annuity rollover applications and altered three clients' email addresses.

Forgery and falsifying documents are inconsistent with just and equitable principles of trade. It violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.

FINRA Rule 4511

FINRA requires firms to maintain accurate records. FINRA Rule 4511 states that firms "shall make and preserve books and records as required under the FINRA Rules, the Exchange Act, and the applicable Exchange Act rules." 

By allegedly signing clients' names without the clients' knowledge or consent and altering clients' email addresses, Kyle Wittgren violated FINRA Rules 4511 and 2010 by causing NYLIFE Securities to maintain inaccurate books and records.

Background Information

Kyle Wittgren has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination

Besides NYLIFE Securities, Kyle Wittgren has also worked with OneAmerica Securities (CRD#:4173). 

Kurta Law Can Help 

If you have been victimized by Kyle Wittgren, don't hesitate to get in touch with us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.