Financial Industry Veteran Barred For Failure to Testify

Financial Industry Veteran Barred For Failure to TestifyOn January 23, FINRA barred Kristian Gaudet (CRD #4190811) from practicing as a broker or associating with a broker-dealer firm. Gaudet was formerly with Ameritas Investment Corp. (AIC) who fired the broker for alleged misuse of client funds. Gaudet refused to testify in the matter, resulting in the bar.

Upon Gaudet’s termination, AIC filed a notice with FINRA stating the broker used client funds for personal use. When FINRA staff sent a request for Gaudet to appear to provide on-the-record testimony, the broker refused to speak on his own behalf regarding the misuse of funds. Instead, via legal counsel, he informed FINRA officers he did not intend to appear. In a letter of acceptance, Gaudet then consented to panel findings and the bar. He did not confirm or deny the FINRA findings.

FINRA rules require registered brokers to comply with investigations and requests for information. A rules violation can result in disciplinary actions like sanctions and a potential ban from acting as a broker or associating with a broker-dealer firm.

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