Daniel K. Kittner, a former registered representative with Ameritas, submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was alleged to be in violation of NASD Rule 2510(b), FINRA Rule 2010 and 4511, assessed a fine of $7,500 and suspended.
In 2011, Kittner joined Ameritas Investment Corporation as a General Securities Representative and a General Securities Principal. According to FINRA, from June 2015 to September 2017, Kittner exercised discretion in the account of a married couple without having written authorization and acceptance of the accounts as discretionary by both the customers and the firm. The findings stated that Kittner effected approximately 700 trades in six separate accounts belonging to the customers without contacting them and confirming the details. The findings also stated that Kittner failed to mark the orders as discretionary, causing the firm’s books and records to be inaccurate. Continue Reading