Joseph Gordon Cloutier of Frisco Texas a stockbroker formerly registered with Wells Fargo Advisors has been charged by Financial Industry Regulatory Authority (FINRA) in a Complaint alleging that Cloutier failed to cooperate with a FINRA investigation into allegations of him executing transactions in customer accounts without permission and soliciting a loan from a customer. Department of Enforcement v. J. Gordon Cloutier Jr., Disciplinary Proceeding No. 2016051652702 (Apr. 30, 2018).
According to the Complaint, Cloutier was sent a letter from FINRA’s Preliminary Investigation Unit which called upon him to provide written information and documentation to FINRA concerning the accusations of his misconduct. The Complaint stated that FINRA’s communication was not able to be delivered, leading to another letter having been sent to Cloutier on November 30, 2016. Cloutier reportedly failed to provide FINRA with a response by the deadline requested.
The Complaint stated that Cloutier was then sent notification of an impending suspension on March 6, 2017. Cloutier continued to ignore FINRA regulators, which led to his suspension on March 6, 2017. Then, on April 7, 2017, Cloutier sought that his suspension be lifted but provided FINRA with no explanation as to why Cloutier failed to respond to FINRA’s previous requests. FINRA Department of Enforcement alleged that Cloutier’s failure to cooperate was violative of FINRA Rule 2010 and 8210.
FINRA Public Disclosure confirms that Cloutier was terminated from Wells Fargo Advisors LLC on September 9, 2016, founded on allegations that he solicited a loan from a customer and placed a trade in that customer’s account without procuring the customer’s approval.
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