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Robert Pitiger Suspended by FINRA After Allegedly Falsifying Firm Documents

Feb 22, 2022 FINRA Suspension

Robert Pitiger (CRD #: 364117), a broker formerly registered with LPL Financial, has been suspended by FINRA, according to his  BrokerCheck Record, accessed on February 10, 2022. 

According to FINRA's allegations, Robert Pitiger violated FINRA Rule 2010 by falsifying 30 firm documents by obtaining customer signatures on blank or incomplete documents and subsequently adding information, by reusing customer signatures on documents, and by altering entries on forms after the customers had already signed them.

FINRA Allegations

According to a disclosure dated December 23, 2021, Robert Pitiger obtained customer signatures on blank or incomplete documents, including new account documents, letters of authorization for movement of funds, an account transfer form, and a transfer on death agreement. After obtaining customer signatures on the blank or incomplete documents, he added information to these documents to effect transactions requested by the customers and submitted them to the firm as originals. 

In some instances, to effect transactions requested by customers, Robert Pitiger allegedly altered entries on new account documents and letters of authorizations, using whiteout or black marker, after the customer had signed the document. 

FINRA Rule 2010 

Falsifying documents 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." 

Since the documents falsified by Robert Pitiger were firm records, he violated FINRA Rules 4511 and 2010 by causing LPL Financial to maintain inaccurate books and records.

Sanctions

As part of the terms of the AWC, Robert Pitiger consented to: 

  1. A three-month suspension
  2. A $5,000 fine

You can read the full copy of the AWC here.

Robert Pitiger Background Information

Robert Pitiger 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 1 - Registered Representative Examination

Besides LPL Financial, Robert Pitiger has also worked with the following firms:

  • G. Edwards & Sons (CRD#:4)
  • CS First Boston Corporation (CRD#:816)
  • Moseley, Hallgarten, Estabrook & Weeden (CRD#:7908)
  • Paine, Webber, Jackson & Curtis (CRD#:8174)
  • Tripp & Co.(CRD#:6967)
  • White, Weld & Co. Incorporated (CRD#:6802)
  • Cowen & Co. (CRD#:1541)

Kurta Law Can Help 

If you have been victimized by Robert Pitiger, please 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.