Tag Archives: Kovack Securities Inc

Kovack Securities Terminates Stockbroker In Unauthorized Trading Investigation

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Unauthorized Trading   |   Comments Off on Kovack Securities Terminates Stockbroker In Unauthorized Trading Investigation

Thomas Wayne Chandler of Fort Lauderdale Florida a stockbroker formerly registered with Kovack Securities Inc. has been terminated from employment on April 3, 2020 founded on allegations that Chandler neglected to abide by procedures and policies of the securities broker dealer in reference to customer accounts. Chandler was associated with Kovack Securities between March 25, […]

Read More »

Investors Accuse Kovack Securities Of Mismanagement

November 04, 2020  |   Posted by :   |   Non-traded REITs, Securities Arbitration Claims   |   Comments Off on Investors Accuse Kovack Securities Of Mismanagement

Keith Landon Kelt (also known as Landon Keith Kelt) of Santa Barbara California a stockbroker employed by Kovack Securities Inc. and TKG Financial LLC is referenced in a customer initiated investment related written complaint which was settled for $12,000.00 on April 7, 2020 founded on allegations that the customer’s account had been improperly managed at […]

Read More »

Investors Sue Kovack Securities For Failure To Supervise

Andrew Scott Corbman of Lansdowne Virginia a stockbroker employed by Kovack Securities Inc. has been referenced in a customer initiated investment related arbitration claim which has been resolved for $80,000.00 in damages founded on accusations that (1) common or preferred equity stock transactions failed to be adequately supervised by the securities broker dealer (2) transactions […]

Read More »

Investors Accuse Kovack Securities Of Unsuitability

January 10, 2020  |   Posted by :   |   Investment and Regulatory News, Variable Annuites   |   0 Comments

Anthony Edward Locascio (also known as Tony Locascio) of Clinton New Jersey a stockbroker currently employed by Kovack Securities Inc. is referenced in a customer initiated investment related complaint which was settled on August 23, 2018 to resolve allegations that the customer had been sold a variable annuity which failed to be appropriate and which […]

Read More »

Investors Accuse Kovack Of Mutual Fund Misconduct

Jeffrey Paul Davis of Bristol Connecticut a stockbroker currently registered with Kovack Securities Inc. is the subject of a customer initiated investment related written complaint on June 10, 2019 in which the customer requested more than $5,000.00 in damages based upon accusations that (1) the customer was placed into inappropriate investments including mutual funds and […]

Read More »

Kovack Stockbroker Barred In Elder Theft Inquiry

Rita Marie Dulya (also known as Rita Marie Masluk) of Port St. Lucie Florida a stockbroker formerly registered with Kovack Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations of Dulya failing to cooperate with a FINRA inquiry. Case No. 2017055835001 (Nov. 19, […]

Read More »

Kovack Securities Stockbroker Sanctioned By Regulator

May 08, 2019  |   Posted by :   |   Forgery, Investment and Regulatory News   |   0 Comments

Gerald James O’Halloran of Punta Gorda Florida a stockbroker formerly employed by Kovack Securities Inc. has been fined and ordered to cease and desist from engaging in violations of Florida Statutes according to an Order issued by Florida Office of Financial Regulations containing findings that (1) O’Halloran failed to inform his securities broker dealer about […]

Read More »

Bufis Barred In Moonlighting Investigation

Judith Ann Bufis of East Brunswick New Jersey a stockbroker formerly registered with Kovack Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate in a FINRA investigation into accusations against Bufis of selling away. Letter of […]

Read More »

Kovack Securities Accused By Customer Of Lying

August 13, 2018  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

Maile Sue Foster of Colorado Springs Colorado a stockbroker currently employed by Kovack Securities Inc. is the subject of a customer initiated investment related written complaint on December 31, 2017 where the customer sought $15,471.00 in damages based upon allegations that (1) the customer was charged unwarranted fees or commissions to invest and (2) Foster […]

Read More »

Kovack Securities Fires Stockbroker For Cause

March 12, 2018  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

Rita Marie Dulya of Port St. Lucie Florida is a stockbroker formerly registered with Kovack Securities Inc. who was fired on October 9 2017 based upon accusations that she inappropriately received funds from a customer. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Dulya has been identified in two customer initiated investment related disputes […]

Read More »

Kovack Broker Suspended For Outside Business Activities

Steven A. Bumbera, of Saint Louis, Missouri, a stockbroker formerly registered with Kovack Securities Inc., has been fined $4,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he engaged in an unapproved outside business activity and failed to be forthcoming to the firm […]

Read More »

Regulator Suspends Kovack Securities Stockbroker

August 17, 2017  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

Jason Eric Mininger, of Rocklin, California, a stockbroker formerly registered with Kovack Securities Inc., has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to notify FINRA staff about whether or not he complied with a customer initiated investment related settlement or arbitration […]

Read More »

Kovack Securities In Customer Arbitration Alleging Fraud

Andrew Scott Corbman, of Lansdowne, Virginia, a stockbroker formerly registered with Kovack Securities, Inc., has been named in a customer initiated investment related arbitration claim, which settled on April 20, 2017, for $100,000.00 in damages based upon allegations including breach of contract and unsuitability pertaining to the customer’s stock purchases. Financial Industry Regulatory Authority (FINRA) […]

Read More »

First Allied Securities Named In FINRA Securities Arbitration

Andrew Raymond Scheirer II, of Lake Mary, Florida, a stockbroker formerly registered with First Allied Securities, has been named in a customer initiated investment related arbitration claim, which settled on July 18, 2016, for $30,000.00 in damages based upon allegations that Scheirer defrauded the customer, breached his contractual duties, and effected private equity transactions in […]

Read More »

Harvest Capital Stockbroker Suspended

April 11, 2017  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

Jeffrey Paul Davis, of Wethersfield, Connecticut, a stockbroker formerly registered with Harvest Capital LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he made unsuitable investment recommendations to firm customers. Letter of Acceptance, Waiver and Consent, No. 2013039456301 (Apr. […]

Read More »

Kovack Securities Sued for Unsuitability

Curtis Dean Milakovich, of Naples, Florida, a stockbroker currently registered with Kovack Securities Inc., has been named in a customer initiated investment related arbitration claim on August 31, 2016, based upon allegations that Milakovich made unsuitable investment recommendations to the customer, implemented an unsuitable strategy for investing, and churned the customer’s account. The customer additionally […]

Read More »

Kovack Securities Sued by Customer For Misrepresentation

Gerald James Ohalloran, a stockbroker currently registered with Kovack Securities Inc., has been named in a customer initiated investment related arbitration claim on August 2, 2016, in which the customer requested $135,000.00 in damages based upon allegations that Ohalloran breached his fiduciary and contractual duties to the customer, made misrepresentations and omissions concerning investments, and […]

Read More »

Kovack Securities Stockbroker Barred In Regulatory Investigation

February 13, 2017  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

Douglas Wayne Studer, of Fort Lauderdale, Florida, a stockbroker formerly registered with Kovack Securities Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Studer’s consent to findings that he failed to cooperate in a FINRA investigation into allegations of his misconduct regarding an inheritance […]

Read More »

Kovack Securities Fined For Cheating Customers

Kovack Securities, Inc., headquartered in Fort Lauderdale, Florida, was censured and fined $125,000.00 by the Financial Industry Regulatory Authority (FINRA) for failing to apply sales charge discounts to eligible customers’ purchases of unit investment trusts, in addition to failing to develop and manage the requisite supervisory practices to ensure that eligible customers received sales charge […]

Read More »

Beverly Hills Stockbroker Schemes $80 Million In Soon-To-Be-Dead People Scam

March 13, 2014  |   Posted by :   |   Investment and Regulatory News, Variable Annuites   |   0 Comments

The US Securities and Exchange Commission issued cease-and-desist proceedings against Michael A. Horowitz and Moshe Marc Cohen from as the result of a fraudulent scheme to profit from the imminent deaths of terminally ill hospice and nursing home patients through the purchase and sale of more than $80 million in deferred variable annuities. The Scheme Michael […]

Read More »