Olivier Gillier Faces One-Year Suspension by FINRA
Olivier Gillier (CRD #: 3222378), a broker formerly registered with Tigress Financial Partners, allegedly participated in an unapproved private securities transaction, according to his BrokerCheck record, accessed on April 17, 2023. If you have questions about his alleged conduct as a broker, keep reading.
FINRA Suspension
On March 29, 2023, Olivier Gillier consented to the entry of findings that he allegedly failed to provide notice to his firm, Tigress Financial Partners, before participating in a private securities transaction.
According to a Letter of Acceptance, Waiver & Consent (AWC), Olivier Gillier allegedly contributed $300,000 in exchange for Class A membership interests in an LLC formed to purchase and manage a property in New York. He allegedly also facilitated three other individuals (including a client of his firm) to invest a total of over $2 million in Class B membership interests in this LLC.
The AWC alleges that only the designated managing member of the LLC had the right to manage and control the business, so Olivier Gillier was not involved in business operations. However, the AWC alleges that these Class A and B membership interests were investment contracts which qualified as securities.
During the relevant period of July 2015 and September 2019, Tigress Financial Partners’ Written Supervisory Procedures (WSPs) allegedly required employees to seek the firm’s approval before engaging in private securities transactions.
Further, Olivier Gillier allegedly falsely claimed on compliance attestations in 2016 and 2017 that he had not engaged in any undisclosed private securities transactions.
The AWC concludes that these allegations constitute violations of FINRA Rules 3280 and 2010.
FINRA Rule 3280
FINRA Rule 3280 requires brokers to seek approval from their firm before engaging in private securities transactions.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
Sanctions
Olivier Gillier consented to the following sanctions:
- $15,000 fine
- 12-month suspension
His suspension took effect on April 3, 2023, and will end on April 2, 2024.
You can read a copy of the AWC here.
Background Information
Olivier Gillier has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
He previously worked for the following firms:
- Tigress Financial Partners (CRD#:154717)
- Northeast Securities (CRD#:25996)
- Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
- Citicorp Investment Services (CRD#:23988)
Kurta Law Can Help
If you worked with Olivier Gillier and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want 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.
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