Judith Ann Bufis (also known as Judith Ann Burmistrenko) of East Brunswick New Jersey, a stockbroker formerly registered with Invest Financial Corporation and Kovack Securities Inc., was issued an Order by New Jersey Bureau Securities revoking her registration as a stockbroker. In the Matter of Judith Bufis Summary Revocation Order (August 25, 2020).
New Jersey Bureau of Securities revoked Bufis’ registration because she was expelled by Financial Industry Regulatory Authority (FINRA). Public Disclosure shows that Bufis has been barred from associating with any FINRA member in any capacity founded on findings that she did not comply with FINRA’s investigation into her potential private securities transactions. Letter of Acceptance Waiver and Consent No. 2016049989802 (October 29, 2018).
According to the AWC, the regulator launched an investigation following Bufis’ termination from Kovack Securities. On September 17, 2018, Bufis was asked by FINRA to provide information and documents that concerned allegations of her selling away activities. Bufis was told to hand over the requested information and documents by October 1, 2018. She was warned about the consequences of failing to comply, including possible sanctions.
Bufis provided nothing to FINRA by the October 1, 2018 deadline. The AWC states that on October 4, 2018, Bufis’ lawyer told the regulator that Bufis would not comply with the request at any time. Bufis violated FINRA Rules 2010 and 8210 for obstructing the investigation.
New Jersey Bureau of Securities found that FINRA’s disciplinary action warranted the revocation of her securities agent license.
Bufis was registered with Invest Financial Corporation between September 20, 2016, and December 31, 2017. She was registered with Kovack Securities between January 2, 2018, and September 7, 2018.