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Kyle Wittgren Barred by FINRA Following An Investigation Regarding Annuity Sales

Kyle Wittgren (CRD#: 6221630) is a previously registered Broker.

Broker’s Background

He entered the securities industry in 2013 and previously worked for NY Life Securities, LLC, and OneAmerica Securities, 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 December 2021, FINRA sanctioned Kyle Wittgren, barring him from all capacities indefinitely, beginning December 27, 2021. The FINRA sanction states, “Without admitting or denying the findings, Wittgren consented to the sanction and to the entry of findings that he refused to provide on-the-record testimony to FINRA in connection with its investigation that it began after receiving a Form U5 that his member firm filed. The findings stated that the Form U5 disclosed that the firm had permitted Wittgren to resign after he admitted he signed clients’ names without the clients’ knowledge or consent, submitted unfunded variable annuity rollover applications and altered three of the clients’ email addresses in violation of company policy.”

For a copy of the FINRA sanction, click here.

In addition, Kyle Wittgren has been the subject of one additional employment disclosure, which is related to the regulatory sanction:

  • April 2021 – “Mr. Wittgren was permitted to resign after he admitted he signed clients’ names without the clients’ knowledge or consent, submitted 13 unfunded variable annuity rollover applications and altered three of the clients’ email addresses in violation of company policy.” Kyle Wittgren was permitted to resign from NY Life Securities, LLC.

For a copy of Kyle Wittgren’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.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]