Kenneth Marc Hutkin of New York New York a stockbroker and investment adviser representative formerly associated with Morgan Stanley has been referenced in a customer initiated investment related written complaint on February 20, 2020 in which the customer requested unspecified damages supported by allegations that the customer had been placed into unsuitable municipal debt investments by Hutkin between 2014 and 2019 while he was associated with Morgan Stanley.
Hutkin has been identified in three additional customer initiated investment related disputes concerning accusations of his misconduct when the stockbroker was employed by Morgan Stanley and First Montauk Securities Corp. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that a customer initiated investment related arbitration claim in reference to Hutkin’s conduct was resolved for $130,000.00 in damages based upon accusations of the customer’s account having been churned and the customer placed into bad investments. The claim also alleges non-disclosures and the failure to supervise.
Hutkin is the subject of another customer initiated investment related written complaint which was settled for $23,000.00 in damages based upon allegations that the customer had been placed into unsuitable investments including Blacklock and Stone Container bonds. The claim also alleges that the customer’s account was churned by Hutkin. Another customer initiated investment related complaint involving Hutkin’s conduct was settled for $52,958.00 in damages based upon allegations that the customer had been overcharged on corporate debt securities.
Hutkin was discharged by Morgan Stanley on September 24, 2018 founded on accusations of him engaging in outside business activities without procuring the securities broker dealer’s approval beforehand. Since November 5, 2018, he has been a stockbroker and an investment adviser representative of Wedbush Securities Inc. Hutkin has been employed by at least two different securities broker dealers which have been expelled by regulators for violation of federal securities laws or are otherwise defunct.
