Kenneth Marc Hutkin of New York New York a stockbroker formerly employed by Morgan Stanley Wealth Management has been discharged by the firm on September 24, 2018 based upon accusations that (1) Hutkin engaged in outside business activities without having disclosed them to the firm and (2) Hutkin received compensation for activities that had not been authorized by the firm.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Hutkin is referenced in three customer initiated investment related disputes pertaining to allegations of his violative conduct during the time that he was associated with Oppenheimer Corp. and First Montauk Securities Corp. Particularly, a customer initiated investment related arbitration claim regarding Hutkin’s activities was resolved for $130,000.00 in damages supported by accusations that omissions had been made to the customer concerning investments; the customer’s investment portfolio was churned; trades were effected in the customer’s account that were not suitable for the customer; and Oppenheimer failed to supervise Hutkin’s activities in the customer’s account.
Thereafter, a customer initiated investment related complaint concerning Hutkin’s conduct was settled for $23,000.00 in damages founded on allegations that inappropriate bond transactions were executed in the customer’s account; and the customer’s investment portfolio had been churned. Further, a customer initiated investment related complaint regarding Hutkin’s activities was resolved for $52,958.00 in damages based upon accusations that the customer was charged unreasonably large commissions for the corporate debt investment transactions executed in the customer’s account.
Hutkin has been registered with Wedbush Securities Inc. since November 2, 2018.
