Brent Van Lott Investigation
October 2022- Orem, Utah
According to FINRA records, Brent Van Lott , a stock broker who is not currently and who was last employed by MHL Investments , discloses a regulatory event, 3 prior customer disputes, and 2 terminations from employment. He is not currently registered with any FINRA broker dealer.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 2018 FINRA suspended Lott for 4 months and fined him $20,000 to resolve allegations that he knowingly and substantially aided and abetted an individual in engaging in the recommendation and sale of securities at a time the individual was not registered with FINRA and not associated with any FINRA member firm. FINRA found that Lott made false statements on firm suitability forms in order to accomplish the sales.
In 7/2017 a customer of his former employer, LPL Financial, was paid $50,000 to settle a FINR A arbitration alleging that Lott made trades in index annuities without the written consent of the customer.
Recently, in 2/2022 MHL Investments discharged Brent Lott for violation of firm policy by acting in a capacity with respect to MHL Investment customers for which neither he nor MHL Investments was licensed to conduct, namely investment advisory services.
Lott had been discharged by a prior employer, LPL Financial, for similar behavior earlier in his career. In October 2013, Brent Lott, was discharged by LPL Financial who made the following allegations on Lott’s FINRA record: “Submitted equity indexed annuity applications without meeting or discussing with clients and violation of the firm’s document signature policy.” Lott was employed by LPL Financial from 4/2006-12/2013.
After leaving LPL Financial in 11/2013, Lott was employed by Girard Securities until 11/2017, when he joined Cetera Advisor Network where he was employed until 2/2018. According to his FINRA record he was not employed with any FINRA member firm from 2/2018 until 2/2020 when he joined MHL Investments. Lott discloses a business affiliation with Lott Financial Assoc. in Orem, Utah, where he provides tax preparation services.
If you have questions about an account handled by Brent Lott, call for a no charge consultation with an experienced securities attorney.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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