Barry Pittman served as a stockbroker for John Thomas Financial (JTF) until he was terminated for several violations of the firm’s code and NASD Conduct Rules. Pittman failed to inform the firm as he was required when an unhappy costumer complained to him about the losses in his account. Several communications were sent between the client and Pittman’s personal email addresses, a problem because JTF did not permit employees to communicate with clients through personal email addresses. The two reached an undisclosed settlement, in which Pittman agreed to reimburse the client for losses in the amount of $65,000. However, Pittman never followed through with the payment.
In accordance with the terms of an AWC, FINRA imposed upon Pittman a fine in the amount of $7,500 and a suspension for 60 days in all capacities.
