Joshua Gottlieb, of Woodland Hills, California, a registered representative with Benefit Funding Services, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that he sold away from his firm. Letter of Acceptance, Waiver and Consent, No. 2015044604802 (May 3, 2017).
According to the AWC, an investigation was launched by FINRA in March of 2015 concerning Gottlieb’s the extent of his outside business activities which were previously made known by him to his firm. Particularly, FINRA sought information to establish whether private securities transactions had been facilitated by Gottlieb, among other conduct indicative of FINRA Rule violations.
The AWC stated that in 2015 and 2016, FINRA received documentation and information from Gottlieb, as well as his recorded testimony before FINRA staff, based on Rule 8210, in connection with the investigation into allegations of his wrongdoing. Apparently, Gottlieb was then called upon to provide further documents and information to FINRA staff, based upon two letters sent by FINRA in February of 2017. A third notice was reportedly sent to Gottlieb which stated that on March 15, 2017, disclosures needed to be transmitted to FINRA by Gottlieb.
FINRA subsequently requested Gottlieb’s recorded testimony on March 9, 2017. However, Gottlieb contacted FINRA in March 2017, wherein he confirmed that he failed to disclose documentation and information that FINRA asked for in previous letters, and that he would not be cooperating with FINRA by providing recorded testimony. As a result, FINRA found that his conduct was violative of FINRA Rules 2010 and 8210.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on November 16, 2010, a customer filed an investment related written complaint regarding Gottlieb’s activities, based upon allegations that Gottlieb violated sales practices in connection with the customer’s variable universal life contract. Further, on December 1, 2010, a customer initiated investment related civil action involving Gottlieb’s conduct was settled for $15,000.00 in damages based upon allegations that Gottlieb, inter alia, breached his contractual duties concerning a dispute pertaining to fees charged in the customer’s account.
Gottlieb’s registration with Benefit Funding Services, LLC, was terminated on March 23, 2017.
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