Rick Douglas Konecny, of Chicago, Illinois, a stockbroker formerly registered with National Securities Corporation, has been suspended indefinitely from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations of his failure to provide FINRA with information about his business activities. FINRA Notice of Suspension, No. 2016049543601 (Aug. 18, 2017). Apparently, Konecny’s suspension is expected to become a permanent bar in all capacities by November 21, 2017, unless he cooperates by providing the requested information.
FINRA Public Disclosure reveals that a customer filed an investment related arbitration claim regarding Konecny’s conduct, requesting $470,000.00 in damages supported by allegations that between December of 2014 and February of 2016, during which time Konecny was associated with J.P. Morgan Securities LLC, he effected unauthorized and unsuitable investment transactions in the customer’s investment account involving stocks, over-the-counter equities and corporate debt investments. FINRA Arbitration No. 17-00856 (Apr. 3, 2017).
Another investment related arbitration claim was brought by a customer, wherein the customer sought $990,212.00 in damages founded on allegations of misrepresentation, suitability, and the over-concentration of the customer’s investment portfolio in equities. FINRA Arbitration No. 17-02223 (Aug. 22, 2017).
Konecny was identified in a subsequent customer initiated investment related arbitration claim, where the customer requested $3,700,000.00 in damages based upon allegations of unsuitable natural resource and energy stock transactions having been effected in the customer’s account; misrepresentation; unauthorized margin use; and over-concentration of the customer’s investment portfolio in equities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-02305 (Aug. 31, 2017).
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