Kyle Zachary Wittgren, of Frisco, Texas, a stockbroker formerly registered with NYLife Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Wittgren refused to testify in an investigation relating to allegations of him signing customer names on variable annuity applications without authorization when he was registered with NYLife Securities. Letter of Acceptance, Waiver, and Consent No. 2021071290001 (December 27, 2021).
According to the AWC, on April 1, 2021, FINRA received a Uniform Termination Notice for Securities Industry Registration (Form U5), which relayed that Wittgren was permitted to resign, supported by accusations of him admitting to forging or signing customers’ names without their consent or knowledge. NYLife additionally alleged that 13 variable annuity applications had been submitted by Wittgren. The securities broker dealer also contends that Wittgren altered the email addresses of customers, violating policy.
The allegations referenced by NYLife Securities served as the basis for a FINRA investigation, which led to FINRA sending a request to Wittgren on December 17, 2021, regarding him testifying as to the accusations. The AWC states that on December 20, 2021, Wittgren’s lawyer informed FINRA about Wittgren getting the request. The lawyer communicated that Wittgren refused to cooperate with the request. FINRA found that Wittgren’s failure to cooperate showed that he violated Rules 2010 and 8210.
Wittgren was registered with NYLife Securities between April 26, 2016, and April 29, 2021.
