Ronald Robert Walchack (also known as Ron Walchack), of Sewickley, Pennsylvania, a stockbroker registered with Ameriprise Financial Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Walchack failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules. Case No. 2021072021501 (Sept. 23, 2022).
According to the AWC, Walchack was terminated by Ameriprise Financial Services LLC for allegedly violating company policies concerning recommendations that Walchack made to customers, exercising discretion in non-discretionary accounts, and mismarking trade tickets.
FINRA began its investigation into Walchack as a result of the allegations made in the Uniform Termination Notice for Securities Industries Registration (Form U5) that Ameriprise filed with FINRA on July 21, 2021. Specifically, on August 8, 2022, FINRA sent a request to Walchack for testimony concerning the allegations. On that same date, Walchack responded to the request in an email where he indicated that he would not appear for testimony. As a result, Walchack violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Walchack is referenced in customer initiated investment related disputes concerning Walchack’s conduct while associated with securities broker dealers, including Painewebber Inc. On January 19, 1989, a customer initiated investment related FINRA securities arbitration claim involving Walchack’s conduct resulted in an award because Walchack and Painewebber Inc. were held liable on the customer’s claims of sales practice violations. FINRA Arbitration No. 89-00217.
On December 15, 2005, another customer filed an investment related complaint involving Walchack’s conduct in which the customer requested $5,000.00 in damages based upon allegations that Walchack made unauthorized transactions relating to the recommendation and sale of common stocks and preferred stocks when Walchack was associated with Advest Inc.
Walchack is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $95,000.00 in damages based upon allegations that Walchack made unsuitable recommendations, misrepresentations, and omissions concerning the recommendation and sale of common stocks and preferred stocks and options when Walchack was associated with Merrill Lynch Pierce Fenner Smith Inc. FINRA Arbitration No. 13-03729 (Dec. 17, 2013).
