FINRA

Respondent Ottman failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Letter

Suspension

any capacity

N/A

12/3/2015

3/8/2016

Alternate case #ARB150048 and FINRA Arbitration number 14-01955. Pursuant to Article VI, Section 3 of FINRA By-Laws, and FINRA Rule 9554, Respondent Ottman is suspended on December 3, 2015 for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. Suspension lifted on March 8, 2016.

THE DAUGHTER OF CLIENTS WITH WHOM I HAVE WORKED FOR MORE THAN 24 YEARS, RECENTLY BROUGHT COMPLAINT AGAINST ME, ALLEGING THAT, AMOUNG OTHER THINGS, THAT THE TREASURIES AND GNMA'S HELD BY HER PARENTS WERE UNSUITABLE, AND THAT THE ACCOUNT HAS SUSTAINED UNREALIZED LOSSES OF BETWEEN $5-7,000. THE EXAMPLE USED IN THE "FAMILY TRUST" ACCOUNT IS IN ERROR DUE TO THE FACT THAT THE ACCOUNT IS ACTUALLY UP IN VALUE SEVERAL THOUSAND DOLLARS FROM THE ORIGINAL DEPOSIT MADE IN MID 2011 AND THE INVESTMENTS WERE MADE WITH THE FULL APPROVAL OF MR. AND [CUSTOMER]. FURTHERMORE, I WAS ASKED TO HANDLE THE ACCOUNT AFTER BOTH DAUGHTERS EXPRESSED INTEREST IN ME DOING SO BASED ON THE SATISFACTION THEIR FATHER HAD OF MY PAST 24 YEARS OF SUCCESSFULLY HANDLING HIS IRA ROLLOVER ACCOUNT AFTER HE RETIRED. DURING THAT TIME HE ORIGINALLY INVESTED APPROXIMATELY $250,000.00 AND HAS TAKEN DISTRIBUTIONS FROM THE ACCOUNT OF OVER $20,000.00 PER YEAR SINCE RETIREMENT. THE ACCOUNT IS STILL VALUED AT NEAR $200,000 TODAY-- EVEN AFTER TAKING OVER $19,000.00 THROUGH THE END OF AUGUST 2012. THIS MERITLESS COMPLAINT WAS INITIATED BY FELTL TO DAMAGE REPUTATION OF BROKER.

$25,000.00

FELTL AND COMPANY, INC.

Voluntary Resignation

THI FIRM CONDUCTED AN INTERNAL INVESTIGATION AND CONCLUDED THAT MR. OTTMAN (I) FAILED TO PAY TAXES; (II) CLAIMED ADVERTISING EXPENSES ON HIS TAX RETURNS THAT THE FIRM NEVER APPROVED; (III) STRUCTURED CUSTOMER ORDERS TO AVOID AN IRS LEVY; AND (IV) USED PERSONAL E-MAIL ACCOUNTS TO COMMUNICATE WITH CUSTOMER. THE FIRM FINED MR. OTTMAN AND REPORTED THE RESULTS OF ITS INVESTIGATION TO FINRA IN A RULE 4530 FILING.

FINRA CONCLUDED ITS EXAMINATION INTO FELTL'S RULE 4530 FILING, TAKING NO ACTION OTHER THAN ISSUING A CAUTIONARY LETTER REGARDING FUTURE EMAIL COMMUNICATIONS WITH CUSTOMERS.

NON-PROFIT FOUNDATION ARM OF FARM CO-OP ALLEGES FORMER FA ENGAGED IN UNSUITABLE, EXCESSIVE AND UNAUTHORIZED TRADING ON CMOS.

$2,000,000.00

$750,000.00

MISUSE OF OPTION STRATEGY. DAMAGES WERE SOUGHT IN THE AMOUNT OF 33,525.00

$33,525.00

$15,150.00

ROBERT BAIRD SETTLED WITHOUT ADMITTING OR DENYING GUILT. SETTLEMENT OF $14,800.00 SEE ATTACHED.