Robert Emmett Pitiger, of Norwich, Vermont, a stockbroker formerly registered with LPL Financial LLC, has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings of Pitiger altering documents and reusing customer signatures while Pitiger was employed by LPL Financial. Letter of Acceptance, Waiver, and Consent No. 2020065310601 (December 23, 2021).
According to the AWC, Pitiger was prohibited under LPL Financial’s policies from altering documents after a customer signed them, reusing a customer’s signature on account documents, and getting a customer to sign incomplete or blank documents.
FINRA states that thirty documents had been falsified by Pitiger. twenty-two were on incomplete or blank forms had been obtained by him. Those documents included letters of authorization, new account documents, and account transfer forms. Pitiger then placed more information on the documents before submitting them to the insurance company. Four instances involved Pitiger reusing customer signatures, and four instances involved him altering documents.
FINRA states that between 2011 and 2017, five questionnaires were completed by Pitiger, where he stated that he did not get any customer’s signature on an incomplete or blank document. Pitiger violated FINRA Rule 2010 and NASD Rule 2110 for falsifying documents. He violated Rules 2010 and 4511 for causing LPL Financial to have inaccurate records and books.
Pitiger was registered with LPL Financial between February 2, 2007, and August 18, 2021.
