Chris Peitz, Calton Broker, Allegedly Misappropriated Funds
Chris Peitz (CRD# 2050559), a broker registered with Calton & Associates, may have misappropriated investor funds, according to a complaint under investigation by regulators. MDF Law is investigating the Mitchell, South Dakota-based financial professional for similar conduct. We urge investors with concerns about their accounts to call us for a free consultation.
This post details the allegations involving Mr. Peitz, as well as his history as a broker. The information below is sourced from his BrokerCheck profile, a Financial Industry Regulatory Authority record examined on January 21, 2025.
Investigation Stems from Misappropriation Complaint
On November 26, 2024, the South Dakota Department of Labor & Regulation filed a disclosure concerning its investigation into Mr. Peitz. As the disclosure reflects, the investigation stems from a complaint that he “may have misappropriated funds” that a customer is unable to locate. The investigation is still pending.
FINRA Rules Forbid Misappropriation
Securities industry rules prohibit brokers like Mr. Peitz from misappropriating customer funds. One important standard is FINRA Rule 2150, which forbids firms and their employees from making “improper use of a customer’s securities or funds.” At the same time, the rule states (with certain exceptions) that brokers may not share in the profits or losses in any account, either directly or indirectly. Finally, the rule forbids representatives from guaranteeing clients against account losses.
Firm Settled Disputes Involving Chris Peitz
Between 2009 and 2010, three parties of investors lodged disputes involving Mr. Peitz. These claims included allegations that he misrepresented investments, conducted inadequate due diligence, and recommended an unsuitable investment. His former member firm settled the disputes for more than $11,000.
FINRA: Broker Based in Mitchell, South Dakota
As his BrokerCheck profile reflects, Mr. Peitz launched his career as a broker when he joined IDS Life Insurance Company in 1990. He has worked at many firms over the subsequent decades, including Royal Alliance Associates and Capital Financial Services. One of his former member firms, Okoboji Financial Services, was expelled by FINRA in 2010. He joined his current employer, Calton & Associates, in 2019, and is based at its Mitchell, South Dakota branch office today. With 34 years of experience as a broker, he has completed five industry exams, including the Series 7 and the Series 63.
Investors Have Rights. MDF Law Defends Them
Did you suffer losses on investments or strategies recommended by Chris Peitz? MDF Law may be able to help you recover losses. Call our seasoned broker fraud attorneys at 800-767-8040 for a free consultation about your options. You may have a limited window to file a FINRA arbitration claim, so don’t delay: call MDF Law today.