Mirsad A. Muharemovic (also known as Mirso Muharemovic) of Brooklyn New York a stockbroker currently registered with Arive Capital Markets is the subject of a customer initiated investment related arbitration claim where the customer sought $307,042.00 in damages based upon accusations that stock trades effected by Muharemovic were not suitable for the customer and that the customer’s account was churned by the stockbroker when he was associated with Arive Capital Markets. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02196 (Aug. 13, 2019).
Muharemovic has been identified in two more customer initiated investment related disputes concerning accusations of his misconduct during the time that he was employed by Seaboard Securities Inc. and Arive Capital Markets. FINRA Public Disclosure confirms that a customer was awarded $35,000.00 in compensatory damages founded on Muharemovic and Seaboard Securities being found liable for the customer’s losses.
According to the claim, fiduciary and contractual duties had been violated. The customer was exposed to negligence and fraud as it pertained to financial transactions effected by the stockbroker. Misrepresentations and omissions had been made to the customer concerning securities transactions. The claim also alleged that trades were effected on an excessive basis and that the customer’s account lacked diversification.
On July 16, 2018, another customer filed an investment related arbitration claim involving Muharemovic’s conduct in which the customer requested $1,000,000.00 in damages based upon allegations of bad stock trades in the customer’s account by Muharemovic when the stockbroker was associated with Arive Capital Markets. FINRA Arbitration No. 18-02443 (July 16, 2018).
Muharemovic has been associated with Arive Capital Markets since June 9, 2016.
