Todd Pilosi, a registered representative from Clovis, California, formerly with LPL Financial was suspended from FINRA membership as a result of an investigation into his borrowing money from a customer without obtaining firm approval, which is a violation of LPL and FINRA rules. Pilosi entered into an acceptance waiver and consent agreement with FINRA in which he neither admitted nor denied the findings, but agreed to a suspension of four months and a fine of $5,000.
In June, 2017 Todd Pilosi agreed to the suspension and FINRA published its findings that Pilosi borrowed $150,000 from a customer, which has not been paid back. Pilosi has entered into a settlement agreement with the customer. FIRNA also found that Pilosi misled LPL when he submitted a compliance questionnaire in which he denied engaging in the loan transaction with the customer.
Todd Pilosi’s registration and disciplinary history