David Gott suspended for outside business activities.
David Gott, a registered representative from Tipton, Iowa, formerly with Ausdal Financial Partners, Inc., was suspended from FINRA membership as a result of an investigation into his selling of private investment equities to customers without obtaining his firm’s approval, which is a violation of FINRA rules. Gott entered into an acceptance waiver and consent agreement with FINRA in which he neither admitted nor denied the findings. He was suspended for six months and fined $5,000.
In July 2017, Gott agreed to the suspension and FINRA published its findings. The report said Gott sold more than $546,000 of private capital to clients and did not notify his firm. FINRA found that Gott’s firm also profited from selling these investments. However, Ausdal Financial Partners, Inc. does not allow their brokers to take part in these types of transactions without their written approval. Gott did not follow the correct guidelines in this process,and compromised his position with the firm.