Finra bars ex-broker for private securities deals

Jerry Lou Guttman was with United Planners' Financial Services.
NOV 16, 2017

The Financial Industry Regulatory Authority has barred former broker Jerry Lou Guttman for engaging in private securities transactions without his firm's prior approval. From 2001 until this past September, Mr. Guttman was associated with United Planners Financial Services, a Scottsdale, Ariz.-based broker-dealer. He is no longer associated with a registered firm. According to Finra, from approximately September 2008 through May 2017, Mr. Guttman participated in private securities transactions without first providing notice to United Planners. This is in violation of Finra rules. During that period, Mr. Guttman sold more than $7 million worth of membership interests in at least six different limited liability companies to 31 firm customers and seven non-customers without informing United Planners.

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