Stephen George Kowalski of Parsippany a stockbroker currently registered with Hennion Walsh Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $1,000,000.00 in damages supported by allegations that between 2012 and 2017, municipal debt purchases were inappropriate for the customer and resulted in the customer incurring unwarranted losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-03137 (Feb. 19, 2019).
FINRA Public Disclosure confirms that Kowalski has been identified in four more customer initiated investment related disputes pertaining to accusations of his misconduct during the period in which he was employed by Hennion Walsh. Specifically, a customer initiated investment related arbitration claim concerning Kowalski’s activities was resolved for $99,000.00 in damages based upon allegations that the customer had been placed into unsuitable mutual fund, municipal-debt and unit investment trust products; and that Kowalski effected transactions in order to generate commissions from the customer.
Kowalski is also referenced in a customer initiated investment related arbitration claim where the customer sought $100,000.00 in damages founded on accusations that unauthorized trades were executed in the customer’s account; investment recommendations were not suitable; and false or misleading statements and omissions had been made concerning trades placed in the customer’s account when Kowalski was associated with Hennion Walsh. FINRA Arbitration No. 18-02738 (Aug. 1, 2018).
An additional customer initiated investment related arbitration claim in regard to Kowalski’s conduct was settled for $50,000.00 in damages supported by allegations of unsuitable investment recommendations concerning mutual funds, municipal debt and corporate debt securities held in the customer’s account. FINRA Arbitration No. 18-00655 (Mar. 26, 2019). Another customer initiated investment related arbitration claim involving Kowalski’s activities was resolved for $29,999.00 in damages based upon accusations of bad municipal debt investment transactions resulting in losses to the customer. FINRA Arbitration No. 18-00150 (Apr. 18, 2019).
Kowalski has been employed by Hennion Walsh as of January 25, 1990.
