FINRA suspends Phillip Paul Tibbetts (CRD #6664181, Upland, California)
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As reported in InvestmentNews, three Raymond James entities have agreed to pay over $15 million to resolve an investigation by the SEC. The settlement and SEC order focused on Raymond James’s actions in improperly charging certain clients advisory fees when the...read more
March 22, 2018 – A Letter of Acceptance, Waiver and Consent (AWC) was issued in which Tibbetts was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for 20 business days. Without admitting or denying the findings, Tibbetts consented to the sanctions and to the entry of findings that he accepted a $1,800 loan from a customer without informing his member firm or seeking its permission to borrow money from the customer. The findings stated that Tibbetts’ borrowing arrangement did not satisfy the limited situations identified as allowed by the firm’s WSPs. The suspension was in effect from April 2, 2018, through April 27, 2018. (FINRA Case #2017055847701). If you or someone you know has lost money investing with Phillip Tibbetts, call the experienced attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-445-9261 now to speak to an attorney for free.