Erkan Eric Afacan of Paramus, New Jersey, a stockbroker registered with Cambridge Investment Research Inc., has been permitted to resign on September 30, 2022, based upon allegations that Afacan failed to comply with the securities broker dealer’s policies regarding covering client account losses.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Afacan is referenced in two customer initiated investment related disputes concerning Afacan’s conduct while associated with securities broker dealers. On July 7, 2003, a customer filed an investment related complaint involving Afacan’s seeking compensatory damages based upon allegations that Afacan made misrepresentations of material fact in connection with the recommendation and sale of variable annuities during the time that Afacan was associated with UBS Financial Services Inc.
On November 14, 2016, another customer initiated investment related FINRA securities arbitration claim involving Afacan’s conduct was settled for $40,000.00 in damages based upon allegations that Afacan made unsuitable recommendations of business development company (BDC) products when Afacan was associated with Cambridge Investment Research Inc. FINRA Arbitration No. 15-01807.
Afacan was associated with Cambridge Investment Research Inc. in Paramus, NJ, from January of 2007 to October of 2022, and was associated with Nationwide Planning Associates Inc. in Paramus, NJ, from September of 2022 to October of 2022.
