Published on:

Laurence Pettit Has Received a Regulatory Sanction

Laurence Pettit

Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on December 25, 2017 indicate that Virginia-based Windsor Street Capital broker Laurence Pettit has received a regulatory sanction and several customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Pettit (CRD# 2215495).

Laurence Pettit has spent 25 years in the securities industry and has been registered with Windsor Street Capital in Midlothian, Virginia since 2011. Previous registrations include Anderson & Strudwick in Richmond, Virginia (2000-2011) and Scott & Stringfellow in Richmond, Virginia (1992-2000). He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on April 13, 1993; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on May 26, 1992; and Series 7 (General Securities Representative Examination), which he obtained on May 12, 1992. He is a registered broker with twelve US states: Alabama, California, Florida, Minnesota, Nevada, New York, North Carolina, Pennsylvania, South Dakota, Tennessee, Texas and Virginia.

According to his BrokerCheck report, he has received one regulatory sanction and eight customer complaints.

In October 2017 the Maryland Division of Securities sanctioned him following allegations he failed to respond to a request for information regarding two liens filed on his disclosure form. His agent registration was consequently revoked.

In 2008 a customer alleged Laurence Pettit, while employed at Anderson & Strudwick, failed to follow instructions to limit the margin percentage of the account. The complaint settled for $40,000.

In 2009 a customer alleged Laurence Pettit, while employed at Anderson & Strudwick, on at least two instances failed to follow instructions to liquidate securities in his account. The complaint settled for $250,000.

In 2002 a claimant alleged Laurence Pettit, while employed at Scott & Stringfellow, recommended unsuitable investments and failed to monitor declining positions. The complaint settled in 2003 for $22,500.

In 2000 a claimant alleged he, while employed at Scott & Stringfellow, recommended unsuitable investments, used margin without authorization and executed unauthorized trades. The complaint settled for $58,000.

In 2000 a claimant alleged he, while employed at Scott & Stringfellow, breached his fiduciary duty, recommended unsuitable trades, executed unauthorized transactions, and used margin excessively. The complaint resulted in an award to the customer of $90,500.

If you or someone you know has lost money investing with Laurence Pettit, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.