Olivier Gillier Suspension For Private Securities Transactions

Soreide Law Group is investigating possible investor claims against securities broker Olivier Robert Gillier (CRD: 3222378, New York, New York). Evidently, FINRA sanctioned the securities broker, who worked for Tigress Financial Partners LLC. Allegedly, Gillier engaged in private securities transactions. Here is a brief summary of FINRA’s allegations against Gillier.

FINRA Suspends Gillier For Private Securities Transactions

Evidently, on March 29, 2023, FINRA issued Acceptance, Waiver, and Consent No. 2018060024001 sanctioning Olivier Gillier for infractions. Specifically, Gillier was suspended for 12 months as a securities broker and fined $15,000. Particularly, FINRA alleged that Gillier engaged in private securities transactions.

Gillier agreed to FINRA’s penalties and findings without admitting or denying them. The findings stated that Gillier took part in a private securities transaction without informing his employer in writing beforehand.

Specifically, he allegedly contributed $300,000 as capital in exchange for membership interests in a limited liability company (LLC) formed to buy and manage a building in New York. Additionally, Gillier allegedly facilitated the investments of three individuals, including a client of his firm. These individuals purportedly invested a total amount exceeding $2 million in membership interests of a different class in the LLC. Supposedly, the responsibility of managing and controlling the LLC's business rested solely with a designated member. Also, Gillier and the Class B investors did not have any role in the building's operation or management.

FINRA says that the LLC's operating agreement defined that Class A and Class B members would expect to receive a share of potential profits according to their respective membership percentages. Supposedly, these membership interests of Class A and Class B in the LLC were considered securities as investment contracts.

Olivier Gillier’s Selling Away Activities

Notably, FINRA says that Gillier's involvement with the LLC occurred outside his employment responsibilities at the firm. Supposedly, he failed to provide prior written notice to the firm regarding his investment in the LLC. And he was quiet about his facilitation of the Class B investors' investments. Furthermore, FINRA concluded that Gillier falsely confirmed on the firm's yearly compliance attestations that he had not participated in any undisclosed private securities transactions.

Gillier Employment Information

• Gillier worked for Tigress Financial Partners LLC in New York, New York, as a securities broker from August 20, 2013, to April 16, 2021.

Damages Resulting From Tigress Financial Partners LLC Securities Broker Gillier?

Did you suffer damages due to Olivier Gillier? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with a securities attorney about a possible recovery of your losses. Soreide Law Group, who has successfully recovered money for hundreds of investors across the United States, represents clients on a contingency fee basis and advances all costs. Gillier and brokerage firms Gillier worked for deny any and all allegations of sales practice violations.