Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Spartan Capital Compliance Officer Charged With The Failure To Disclose Arbitration Claims

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Kim Marie Monchik (also known as Kim Marie Amendola), a stockbroker and CCO of Spartan Capital Securities LLC, is the subject of a Financial Industry Regulatory Authority (FINRA) enforcement action in which the regulator is seeking sanctions against Monchik based upon allegations that Monchik failed to disclose customer initiated investment related arbitration claims. Department of Enforcement v. Kim M. Monchik, Disciplinary Proceeding No. 2019061528001 (Oct. 19, 2021).

According to the Complaint, on 15 occasions, Monchik failed to disclose arbitration claims and arbitration resolutions. The arbitration claims alleged that Monchik failed to supervise certain representatives who engaged in sales practice violations. FINRA alleges that Monchik violated FINRA Rules 2010 and 1122 as well as FINRA By-Laws Article V Section 2(c).

FINRA Public Disclosure shows that Monchik is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer was awarded $41,842.00 in compensatory damages because Monchik and Spartan Capital Securities LLC were held liable for sales practice violations. FINRA Arbitration No. 15-01911 (Apr. 6, 2016). The Statement of Claim alleged breach of fiduciary duty, breach of contract, misrepresentation, fraud, failure to supervise, churning, and unsuitable and unauthorized trading.

Monchik has been associated with Spartan Capital Securities LLC in New York, NY, as a stockbroker since July 31, 2008.