Emil John Skyba of Westport Connecticut a stockbroker formerly registered with Westport Capital Markets LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into accusations that he altered customer account documents. Letter of Acceptance Waiver and Consent No. 2017056500901 (May 11, 2018).
According to the AWC, FINRA launched an investigation into Skyba to determine whether she altered new customer account forms. Evidently, FINRA submitted several requests to Skyba between December 13, 2017 and March 17, 2018 calling for him to provide information to the regulator. The AWC stated that on April 16, 2018, Skyba spoke with FINRA personnel to communicate his understanding of FINRA’s request and confirm his decision not to cooperate in FINRA’s investigation. FINRA found that Skyba’s refusal to provide FINRA with the requested information was violative of FINRA Rules 2010 and 8210.
FINRA Public Disclosure confirms that Skyba has been identified in four customer initiated investment related disputes containing allegations of his misconduct during the time that he was employed by Westport Capital Markets, UBS Financial Services Inc. and Shearson Lehman Brothers. Particularly, a customer initiated investment related arbitration claim involving Skyba’s conduct was settled for $75,000.00 in damages supported by accusations that Skyba executed leveraged exchange traded fund trades in the customer’s account that were not suitable for the customer. FINRA Arbitration No. 11-02025 (Apr. 12, 2012).
Another customer initiated investment related arbitration claim concerning Skyba’s conduct was settled for $30,000.00 in damages based upon allegations that the customer was placed into penny stock and equity investments that were not suitable for the customer, as those investments failed to conform to the customer’s age and objectives for investing. FINRA Arbitration No. 17-02919 (Mar. 30, 2018).
Skyba’s registration with Westport Capital Markets was terminated on September 26, 2017.
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