Jeffrey Alan Blutstein of Holbrook New York a stockbroker formerly employed by Kestra Investment Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Blutstein neglected to cooperate with a FINRA investigation into accusations of Blutstein engaging in outside business activities that he failed to disclose to Kestra during the period he was employed by the firm. Letter of Acceptance Waiver and Consent No. 2018057785901 (July 3, 2019).
According to the AWC, an investigation had been launched by FINRA personnel in 2019, after which point Blutstein had been terminated from Kestra Investment Services LLC. FINRA reportedly received a Form U5 from Blutstein which disclosed that Blutstein was discharged on March 13, 2018 supported by allegations of Blutstein’s failure to comply with the policies of the firm. The AWC stated that the regulator sought information about Blutstein possibly engaging in business matters outside the auspices of Kestra Investment Services.
Evidently, on April 22, 2019, a request had been made by FINRA according to Rule 8210 for the documents and information in Blutstein’s possession. On May 13, 2019, counsel for Blutstein reportedly contacted FINRA personnel to confirm Blutstein received the request from FINRA. However, Blutstein’s counsel notified FINRA that Blutstein was not going to hand over any of the documents and information requested of him. FINRA indicated that Blutstein’s refusal to assist FINRA personnel in this regard constituted the violation of FINRA Rules 2010 and 8210. Accordingly, Blutstein was barred for obstructing the FINRA investigation.
Blutstein was registered with Kestra Investment Services LLC between June 14, 2017 and March 14, 2018. He was subsequently employed by American Portfolio Financial Services until July 3, 2019.
