Peter M. Torabkhan of New York New York is a stockbroker currently registered with EJ Sterling Inc. who has been fined $2,500.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance Waiver and Consent No. 2016050114801 (Mar. 13, 2018).
According to the AWC, between January of 2014 and June of 2015, during the time that Torabkhan was registered with EJ Sterling Inc., he placed trades in two customers’ accounts on a discretionary basis even though he failed to retrieve the customers’ authorization in writing beforehand. In addition, the accounts owned by customers had not been accepted by the firm as discretionary accounts. FINRA found that Torabkhan’s discretionary trading was violative of FINRA Rule 2010 and National Association of Securities Dealers (NASD) Rule 2510.
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