Curtis Dean Milakovich, of Naples, Florida, a stockbroker currently registered with Kovack Securities Inc., has been named in a customer initiated investment related arbitration claim on August 31, 2016, based upon allegations that Milakovich made unsuitable investment recommendations to the customer, implemented an unsuitable strategy for investing, and churned the customer’s account. The customer additionally alleged that Kovack Securities, Inc. and Interactive Brokers, LLC failed to supervise Milakovich’s activities, which included enabling Milakovich to conduct business as an unregistered investment advisor.
Milakovich’s registration with Kovack Securities, Inc. was terminated on November 4, 2013, based upon allegations that one of the customers who Milakovich serviced the accounts of had complained about commissions and excessive trading effected by Milakovich in the customer’s account. Subsequently, on May 28, 2015, Milakovich was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on his failure to provide FINRA with requested information. Letter No. 2013039263901 (Feb. 25, 2015).
Financial Industry Regulatory Authority (FINRA) Public Disclosure further reveals that on November 6, 2013, a customer initiated investment related written complaint involving Milakovich’s conduct was settled for $55,000.00 in damages based upon allegations that Milakovich effected unauthorized, unsuitable, and excessive equity transactions in the customer’s investment account.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
