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James Pettit Has Been Barred From Acting as a Broker

James Pettit

Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on April 16, 2018 indicate that former Connecticut-based Ameriprise Financial Services broker/adviser James Pettit has been sanctioned by FINRA in connection to alleged rule violations and barred from acting as a broker or otherwise associating with a broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Pettit (CRD# 733916).

James Pettit has spent 34 years in the securities industry and was most recently registered with Ameriprise Financial Services in Suffield, Connecticut (2015-2016). Previous registrations include Janney Montgomery Scott in Glastonbury, Connecticut (2007-2014); Merrill Lynch in West Hartford, Connecticut (2006-2007); Advest in Hartford, Connecticut (2001-2006); Salomon Smith Barney in New York, New York (1986-2001); and Painewebber (1981-1986). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on February 12, 1986, and Series 7 (General Securities Representative Examination), which he obtained on June 20, 1981. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received two regulatory sanctions and one pending regulatory complaint.

In March 2018 FINRA sanctioned him in connection to his alleged failure comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information regarding the status of such. He was suspended from acting as a broker.

In November 2017 FINRA sanctioned him in connection to allegations he failed to respond to FINRA request for information. He was consequently barred from acting as a broker or otherwise associating with a broker-dealer firm.

In May 2017 he was named respondent in a complaint by the State of Connecticut in connection to allegations he participated in “certain improprieties” that constituted “dishonest or unethical practices,” including the borrowing of money from a brokerage customer’s account without the client’s prior consent and without providing notice to Janney Montgomery Scott; the borrowing of funds from an advisory customer’s account; and the participation in an outside business activity involving a firm customer without providing notice to the firm. The complaint also alleges he participated in self-dealing with respect to a power of attorney he held over an elderly client’s account who was since deceased. The complaint remains pending.

If you or someone you know has a complaint regarding James Pettit, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.