- January 18, 2022
- PFS Investments
Igor Peter Kislitsa (CRD#: 6324794) is a previously registered Broker.
He entered the securities industry in 2015 and previously worked for PFS Investments, Inc.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in November 2021, a pending sanction was issued by FINRA against Igor Peter Kislitsa. The FINRA sanction states, “Kislitsa was named a respondent in a FINRA complaint alleging that he failed to respond to FINRA’s requests for information and documents during the course of its investigation into the circumstances surrounding his termination from his member firm. The complaint alleges that the firm filed a Form U5 disclosing that it discharged Kislitsa because he admitted to completing securities applications without those customers being present and that a firm internal review revealed that he received the customers’ personally identifiable information through email and completed the application based on the emailed information.”
For a copy of the FINRA sanction, click here.
In addition, Igor Peter Kislitsa has other disclosures reflected on his BrokerCheck, including regulatory disclosures, employment disclosures and a customer complaint, including the following:
- December 2020 – “Respondent Kislitsa failed to respond to FINRA request for information.” Igor Peter Kislitsa was suspended indefinitely until the required information was provided to FINRA or the suspension was converted to a bar on January 8, 2021. The FINRA statement continues, “Pursuant to FINRA Rule 9552 and in accordance with FINRA’s Notice of Suspension letter dated December 15, 2020, Kislitsa is suspended on January 8, 2021 from associating with any FINRA member firm in all capacities. If Kislitsa fails to request termination of the suspension within three months of the date of the Notice of Suspension, he will automatically be barred on March 18, 2021 from association with any FINRA member in all capacities pursuant to FINRA Rule 9552(h).”
- May 2020 – “THE REPRESENTATIVE ADMITTED TO COMPLETING SECURITIES APPLICATIONS WITHOUT THE CUSTOMER BEING PRESENT.” Igor Peter Kislitsa was discharged by PFS Investments, Inc.
- December 2019 – “CUSTOMER HAS ALLEGED THAT I PROVIDED POOR SERVICE WHEN I FAILED TO TIMELY ROLLOVER RETIREMENT PLAN ASSETS WITHIN 60 DAYS.” The customer dispute was closed with no action.
- December 2015 – “FAILURE TO NOTIFY THE COMMISSION WITHIN 30 DAYS AFTER A FELONY CHARGE WAS FILED AGAINST HIM. RESPONDENT DID NOT NOTIFY OF THE CONVICTION OF MISD. DUI AND EVADING A POLICE OFFICER.” The action was initiated by the Department of Insurance, California. Igor Peter Kislitsa was sanctioned with a restricted license for three years.
- January 2013 – “RECKLESS EVADE, FLEE OR ELUDE A PEACE OFFICER.” The charges were reduced to a misdemeanor. Igor Peter Kislitsa was convicted of a DUI misdemeanor.
For a copy of Igor Peter Kislitsa’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.
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