New York General Securities Representative Barred for Refusing to Comply with FINRA Request for Information and Documents Regarding Alleged OBAs, Selling Away, and Breach of Fiduciary ObligationsFriday, December 21, 2018
The Financial Industry Regulatory Authority (FINRA) Department of Enforcement recently approved a Letter of Acceptance, Waiver and Consent (AWC) to resolve allegations of securities industry rules violations against general securities principal Mitchell Kurtz.
According to his FINRA BrokerCheck report, Kurtz was associated with Advest, Inc. in Hartford, Connecticut from January 1994 to January 2006. He then became associated with Raymond James Financial Services, Inc. in Roslyn Heights, New York from January 2006 to December 2009. Kurtz was discharged “pending legal claim involving large losses and failure to follow firm policy regarding altered documents discovered during a FINRA inquiry.” In 2012, FINRA suspended Kurtz for 45 days and fined him $10,000 for altering account profile information on new account forms as an accommodation to his customers.
From January 2010 to July 2018, Kurtz was associated with Henley & Company LLC (Henley), a firm also located in Roslyn Heights, New York. Henley discharged Kurtz for allegedly violating FINRA rules and firm policies regarding outside businesses activities, selling away, fiduciary duty obligations, and violation of the firm’s Code of Ethics. Shortly after Henley updated Kurtz’s Form U5, FINRA Department of Enforcement began investigating the allegations that led to his departure. FINRA sent Kurtz requests for documents and information about the allegations, which he refused to produce. Thus, Kurtz violated FINRA Rules 8210 and 2010.
By signing the AWC, Kurtz consented to a bar from associating with any FINRA member firm in any capacity without admitting or denying the allegations made against him.
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