Kyle Zachary Wittgren, of Frisco, Texas, a stockbroker registered with NYLife Securities LLC has been denied securities licensure in Minnesota based upon allegations that Wittgren made misrepresentations and forged a customer’s signature. Case No. 8453GA6M (Jan. 28, 2022).
This is not the first time that Wittgren has been the subject of a regulatory action concerning his conduct in the securities industry. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Wittgren has been barred from associating with any FINRA member in any capacity based upon allegations that Wittgren failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules. Case No. 2021071290001 (Dec. 27, 2021).
According to the AWC, on April 29, 2021, NYLife Securities LLC filed a Uniform Termination Notice for Securities Regulation (Form U5) with FINRA, where it disclosed that Wittgren was allowed to resign from the firm after he admitted to signing client’s names without their knowledge, submitting 13 unfunded variable annuity rollover applications, and altering three customers’ email addresses in violation of company procedure. As a result of the allegations contained in the Form U5, FINRA began an investigation into Wittgren. On December 17, 2021, Wittgren was sent a request by FINRA for testimony. Through his counsel, Wittgren indicated on December 20, 2021, that he had received FINRA’s request for testimony but would not appear at any time. Wittgren violated FINRA Rules 2010 and 8210 as a result.
Kyle Wittgren was associated with NYLife Securities LLC in Frisco, TX, as a stockbroker from April 26, 2016 to April 29, 2021.