Herbert Kurinsky Audit (2023) – A Scam or Legit Broker?

Herbert Kurinsky  – and the firm that employs him or her – is regulated by the Financial Industry Regulatory Authority (FINRA).

If you are like most people, before you go out to dinner at a new restaurant, you probably take a quick look at the reviews. This makes sense; you are going to pay for an expensive dinner, and you need to be sure that you are getting a good value.

Yet, when choosing a financial advisor, many people fail to conduct this same level of due diligence. Before turning over access to your money, you need to be sure that you have found a financial advisor that you can trust. Here, our audit report, including details of allegations, complaints, and sanctions will help you decide whether or not to invest with Herbert Kurinsky.

BrokerComplaints.com is currently investigating allegations related to Herbert Kurinsky. We provide a free platform for investors to help them in their claims against negligent brokers and brokerage firms.

About Herbert Kurinsky

Herbert Kurinsky is an Investment Adviser. Herbert Kurinsky’s Central Registration Depository (CRD) number is 276776 and the FINRA Profile can be found at – https://brokercheck.finra.org/individual/summary/276776.

Click here to download a Detailed Audit Report for Herbert Kurinsky.

Herbert Kurinsky has previously been reprimanded and has disclosures and/or client dispute(s) listed at FINRA BrokerCheck.

Accusations and Disclosures

You can find below, a quick snapshot of Herbert Kurinsky’s regulatory actions, arbitrations, and complaints.

DISCLOSURE 1 – 

• Event Date: 4/24/2008
• Disclosure Type: Regulatory
• Disclosure Resolution: Final
• Disclosure Detail :: DocketNumberFDA:
• Initiated By: UNITED STATES SECURITIES AND EXCHANGE COMMISSION
• Allegations: SEC ADMIN RELEASE 34-57710, APRIL 24, 2008: KURINSKY WILLFULLY AIDED AND ABETTED AND CAUSED HIS MEMBER FIRM’S VIOLATIONS OF SECTION 15(B)(7) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULE 15B7-1 THEREUNDER – THE SECURITIES AND EXCHANGE COMMISSION (COMMISSION) DEEMS IT APPROPRIATE AND IN THE PUBLIC INTEREST THAT PUBLIC ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS BE, AND HEREBY ARE, INSTITUTED PURSUANT TO SECTIONS 15(B) AND 21C OF THE SECURITIES EXCHANGE ACT OF 1934 (EXCHANGE ACT) AGAINST HERBERT KURINSKY (KURINSKY). IN ANTICIPATION OF THE INSTITUTION OF THESE PROCEEDINGS, RESPONDENT SUBMITTED AN OFFER OF SETTLEMENT (THE OFFER) WHICH THE COMMISSION HAS DETERMINED TO ACCEPT. KURINSKY FAILED REASONABLY TO SUPERVISE A REGISTERED REPRESENTATIVE WITH A VIEW TO PREVENTING AND DETECTING HIS VIOLATIONS OF THE FEDERAL SECURITIES LAWS. KURINSKY IMPROPERLY DELEGATED SUPERVISORY RESPONSIBILITIES TO AN INDIVIDUAL WHO DID NOT HOLD A SERIES 24 LICENSE, AS REQUIRED BY FINRA, FOR SUPERVISORY PRINCIPALS. MOREOVER, KURINSKY FAILED TO FOLLOW-UP ON HIS SUPERVISORY DELEGATION AND FAILED TO ADDRESS WHETHER REASONABLE POLICIES AND PROCEDURES TO MONITOR THE REPRESENTATIVE’S ACTIVITIES HAD BEEN IMPLEMENTED.
• Resolution: Order
• Sanction Details :: Sanctions: Monetary/Fine
• Sanction Details :: Amount: $50,000.00 Sanctions: Cease and Desist/Injunction Sanctions: Suspension
• Sanction Details: SOLELY FOR THE PURPOSE OF THESE PROCEEDINGS AND ANY OTHER PROCEEDINGS BROUGHT BY OR ON BEHALF OF THE COMMISSION, OR TO WHICH THE COMMISSION IS A PARTY, AND WITHOUT ADMITTING OR DENYING THE FINDINGS HEREIN, EXCEPT AS TO THE COMMISSION’S JURISDICTION OVER HIM AND THE SUBJECT MATTER OF THESE PROCEEDINGS, WHICH ARE ADMITTED, RESPONDENT CONSENTS TO THE ENTRY OF THIS ORDER INSTITUTING PUBLIC ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS AND A CEASE-AND-DESIST ORDER PURSUANT TO SECTIONS 15(B) AND 21C OF THE SECURITIES EXCHANGE ACT OF 1934 (ORDER). KURINSKY WILLFULLY AIDED AND ABETTED AND CAUSED HIS MEMBER FIRM’S VIOLATIONS OF SECTION 15(B)(7) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULE 15B7-1 THEREUNDER. IT IS HEREBY ORDERED THAT: KURINSKY SHALL CEASE AND DESIST FROM CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF SECTION 15(B)(7) OF THE EXCHANGE ACT AND RULE 15B7-1 PROMULGATED THEREUNDER; KURINSKY SHALL BE, AND HEREBY IS, SUSPENDED FROM ASSOCIATION IN A SUPERVISORY CAPACITY WITH ANY BROKER OR DEALER FOR A PERIOD OF SIX MONTHS, EFFECTIVE ON THE SECOND MONDAY FOLLOWING THE ENTRY OF THIS ORDER; KURINSKY SHALL, WITHIN 10 DAYS OF THE ENTRY OF THIS ORDER, PAY A CIVIL MONEY PENALTY IN THE AMOUNT OF $50,000 TO THE UNITED STATES TREASURY. THE SUSPENSION IN A SUPERVISORY CAPACITY IS IN EFFECT FROM MAY 5, 2008 THROUGH NOVEMBER 4, 2008.

DISCLOSURE 2 – 

• Event Date: 8/12/2002
• Disclosure Type: Regulatory
• Disclosure Resolution: Final
• Disclosure Detail :: DocketNumberFDA: C9B020053
• DocketNumberAAO: 9020053
• Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
• Allegations: NASD RULES 2110, 3010(A) AND 3010(B) – WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, THE RESPONDENT CONSENTED TO THE ENTRY OF FINDINGS THAT HE, ACTING THROUGH MEMBER FIRM, FAILED TO ESTABLISH, MAINTAIN AND ENFORCE AN ADEQUATE SUPERVISORY SYSTEM AND WRITTEN SUPERVISORY PROCEDURES REGARDING ITS MUTUAL FUND BUSINESS.
• Resolution: Acceptance, Waiver & Consent(AWC)
• Sanction Details :: Sanctions: Monetary/Fine
• Sanction Details :: Amount: $25,000.00 Sanctions: Censure
• Sanction Details: A CENSURE AND A FINE OF $25,000, TO BE PAID JOINTLY AND SEVERALLY.
• Broker Comment: MATTER SETTLED THROUGH AWC AND IS NOW FINAL; CLOSED.

DISCLOSURE 3 – 

• Event Date: 10/22/2001
• Disclosure Type: Regulatory
• Disclosure Resolution: Final
• Disclosure Detail :: DocketNumberFDA: C10010133
• DocketNumberAAO: 10010133
• Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
• Allegations: NASD RULES 1031(A),1120(A),2110,3070(B),3070(C) – WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, THE RESPONDENT CONSENTED TO THE ENTRY OF FINDINGS THAT, A MEMBER FIRM, ACTING THROUGH KURINSKY, FAILED TO PROMPTLY REPORT THE EXISTENCE OF CONDITIONS IN ACCORDANCE WITH NASD RULE 3070(B), FAILED TO REPORT STATISTICAL AND SUMMARY INFORMATION REGARDING CUSTOMER COMPLAINTS AND TO TIMELY REPORT STATISTICAL AND SUMMARY INFORMATION REGARDING CUSTOMER COMPLAINTS;A MEMBER FIRM,ACTING THROUGH KURINSKY, PERMITTED INDIVIDUALS TO ENGAGE IN THE SECURITIES BUSINESS OF THE FIRM AS OVER-THE-COUNTER TRADERS WHILE NOT REGISTERED IN ANY CAPACITY; AND A MEMBER FIRM,ACTING THROUGH KURINSKY, PERMITTED A REGISTERED REPRESENTATIVE WHOSE REGISTRATION WAS INACTIVE BY VIRTUE OF HIS FAILURE TO COMPLY WITH THE CONTINUING EDUCATON REGULATORY ELEMENT TO EXECUTE CUSTOMER SECURITIES TRANSACTIONS.
• Resolution: Acceptance, Waiver & Consent(AWC)
• Sanction Details :: Sanctions: Monetary/Fine
• Sanction Details :: Amount: $50,000.00 Sanctions: Suspension
• Sanction Details: FINED $50,000, JOINTLY AND SEVERALLY, WHICH INCLUDES THE DISGORGEMENT OF $460 IN CONNNECTION WITH COMMISSIONS RECIEVED BY THE FIRM CONCERNING THE EXECUTION OF SECURITIES TRANSACTIONS BY THE INACTIVE REGISTERED REPRESENTATIVE, AND SUSPENDED FROM ASSOCIATION WITH ANY NASD MEMBER IN A SUPERVISORY CAPACITY FOR 25 DAYS. SUSPENSION EFFECTIVE NOVEMBER 19, 2001 TO CLOSE OF BUSINESS DECEMBER 13, 2001.

DISCLOSURE 4 – 

• Event Date: 12/30/1999
• Disclosure Type: Regulatory
• Disclosure Resolution: Final
• Disclosure Detail :: DocketNumberFDA: CMS990159
• DocketNumberAAO: 990159
• Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS,INC.
• Allegations: NASD RULES 2110, 3010, 3110 – KURINSKY FAILED TO ESTABLISH, MAINTAIN, AND ENFORCE WRITTEN SUPERVISORY PROCEDURES RELATING TO MARKING-THE-CLOSE ACTIVITY, TRADE REPORTING AND BOOKS AND RECORDS.
• Resolution: Acceptance, Waiver & Consent(AWC)
• Sanction Details :: Sanctions: Monetary/Fine
• Sanction Details :: Amount: $5,000.00
• Sanction Details: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, KURINSKY CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS, THEREFORE, HE IS FINED $5,000.

DISCLOSURE 5 – 

• Event Date: 5/7/1991
• Disclosure Type: Regulatory
• Disclosure Resolution: Final
• Disclosure Detail :: DocketNumberFDA: C9A900018
• DocketNumberAAO: 9900018
• Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
• Allegations: RESPONDENT HERBERT KURINSKY ENGAGED IN EQUITY SECURITIES TRANSACTIONS AT PRICES THAT WERE UNFAIR AND UNREASONABLE; FAILED TO INDICATE ON ORDER TICKETS LONG OR SHORT NOTATIONS; FAILED TO MAINTAIN ADEQUATE WRITTEN SUPERVISORY PROCEDURES; FAILED TO MAINTAIN A COPY OF NEW ACCOUNT INFORMATION; AND, FAILED TO OBTAIN OPTIONS AGREEMENTS FOR CERTAIN ACCOUNTS AND DID NOT HAVE AN ACCOUNT APPROVED BEFORE EFFECTING OPTIONS TRANSACTIONS IN THE ACCOUNT;
• Resolution: Acceptance, Waiver & Consent(AWC)
• Sanction Details :: Sanctions: Monetary/Fine
• Sanction Details :: Amount: $5,000.00 Sanctions: Censure
• Sanction Details: ON MAY 7, 1991, THE LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. C9A900018 (PHL-906-AWC – DISTRICT NO. 9) SUBMITTED BY RESPONDENT HERBERT KURINSKY, WAS ACCEPTED; THEREFORE, HE IS CENSURED AND FINED $5,000, JOINTLY AND SEVERALLY – (ARTICLE III, SECTIONS 1, 4, 21(B),(C), 27(B) AND 33 APPENDIX E OF THE RULES OF FAIR PRACTICE AND MSRB RULE G30 –
• Broker Comment: AS A RESULT OF A ROUTINE AUDIT THE NASD FOUND VARIOUS VIOLATIONS WHICH RESULTED IN THE TENDERING OF THE AWC TO SETTLE THE MATTER. THE FIRM HAS TAKEN THE STEPS NECESSARY TO RECTIFY THE DEFICIENCIES NOTED IN THE AUDIT TO ENSURE THAT FUTURE VIOLATIONS ARE AVOIDED.

DISCLOSURE 6 – 

• Event Date: 12/26/1990
• Disclosure Type: Regulatory
• Disclosure Resolution: Final
• Disclosure Detail :: DocketNumberFDA:
• Initiated By: MA
• Allegations: Not Provided
• Resolution: Order
• Sanction Details :: Sanctions: Revocation/Expulsion/Denial
• Sanction Details: Not Provided
• Broker Comment: NOT PROVIDED

DISCLOSURE 7 – 

• Event Date: 8/23/1989
• Disclosure Type: Regulatory
• Disclosure Resolution: Final
• Disclosure Detail :: DocketNumberFDA: PHL-838
• DocketNumberAAO: 838
• Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
• Allegations: ARTICLE III, SECTIONS 1, 4, 21, 21(A), 33 AND 35 OF THE RULES OF FAIR PRACTICE AND MSRB RULE G-30 IN THAT A MEMBER FIRM,ACTING THROUGH RESPONDENT H. KURINSKY, EFFECTED SALES OF EQUITY SECURITIES AT UNFAIR PRICES; FAILED TO MAINTAIN ESSENTIAL FACTS ON CUSTOMER ACCOUNTS, TRADED OPTIONS BEFORE APPROVAL BY THE REGISTERED OPTIONS PRINCIPAL, TRADED OPTIONS ABOVE APPROVAL LEVELS, ACCOUNTS WERE SIGNED BY SOMEONE OTHER THAN THE OPTIONS PRINCIPAL AND FAILED TO SUBMIT AND OBTAIN APPROVAL FOR ITS METHOD OF ALLOCATION; FAILED TO COMPLY WITH THE BOARD OF GOVERNORS INTERPRETATION CONCERNING FREE-RIDING AND WITHHOLDING; MADE INCORRECT DISCLOSURES ON CONFIRMATIONS TO CUSTOMERS; FAILED TO COMPLY WITH THE ASSOCIATION’S ADVERTISING REQUIREMENTS; AND, FAILED TO INDICATE WHETHER THE SELL ORDER WAS LONG OR SHORT.
• Resolution: Decision & Order of Offer of Settlement
• Sanction Details :: Sanctions: Monetary/Fine
• Sanction Details :: Amount: $15,000.00 Sanctions: Censure Sanctions: Suspension
• Sanction Details: AMENDED DECISION ACCEPTING RESPONDENTS’ OFFER OF SETTLEMENT WAS RENDERED 4/9/90 TO REDUCE THE FINES IMPOSED AGAINST RESPONDENTS TO $15,000, JOINTLY AND SEVERALLY. THE SUSPENSION WILL COMMENCE MAY 7, 1990 AND WILL CONCLUDE MAY 18, 1990.

DISCLOSURE 8 – 

• Event Date: 9/30/1988
• Disclosure Type: Regulatory
• Disclosure Resolution: Final
• Disclosure Detail :: DocketNumberFDA: PHL-678
• DocketNumberAAO: 678
• Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
• Allegations: ALLEGING VIOLATIONS OF ARTICLE III, SECTIONS 1, 4, 21, 27, 27(A) AND 33 OF THE RULES OF FAIR PRACTICE AND MSRB RULE G-27 A MEMBER FIRM, ACTING THROUGH KURINSKY, EFFECTED UNFAIRLY PRICED SALES; TRADED UNAPPROVED OPTIONS; AND FAILED TO: REGISTER AN INDIVIDUAL AS A PRINCIPAL; DISCLOSE THE TRADE PRICE REPORTED AND THE MARK-UP OR MARK-DOWN; COMPLY WITH SEC RULE 15C2-4; PROVIDE NOTICE THAT A GENERAL PARTNER RESIGNED; MAINTAIN ESSENTIAL FACTS RELATING TO CERTAIN OPTION ACCOUNTS; ALLOWED ONE ACCOUNT TO TRADE OPTIONS ABOVE THE APPROVED LEVEL HAVE A REGISTERED OPTIONS PRINCIPAL IN A BRANCH OFFICE; HAVE A WRITTEN PROGRAM OF SUPERVISION FOR OPTION ACCOUNTS. A MEMBER FIRM , ACTING THROUGH RESPONDENTS KURINSKY, ET. AL., FAILED TO: EVIDENCE IN WRITING THE REVIEW OF CERTAIN OPTION, MUNICIPAL AND GENERAL SECURITIES TRANSACTIONS; EVIDENCE REVIEW OF ANY CORRESPONDENCE OF THE FIRM’S REGISTERED REPRESENTATIVES; HAVE ANY WRITTEN SUPERVISORY PROCEDURES; COMPLY WITH WRITTEN REQUESTS FOR INFORMATION MADE PURSUANT TO ARTICLE IV, SECTION 5 OF THE RULES OF FAIR PRACTICE.
• Resolution: Decision & Order of Offer of Settlement
• Sanction Details :: Sanctions: Monetary/Fine
• Sanction Details :: Amount: $12,500.00 Sanctions: Censure
• Sanctions: REQUALIFICATION
• Sanction Details: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, KURINSKY, CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS, THEREFORE, HE IS CENSURED AND FINED $12,500, JOINTLY AND SEVERALLY; KURINSKY IS REQUIRED TO REQUALIFY BY EXAMINATION AS A GENERAL SECURITIES PRINCIPAL; 90 DAYS FROM THE DATE OF THIS DECISION ARE PROVIDED FOR HIM TO CONTINUE FUNCTIONING IN A PRINCIPAL CAPACITY PENDING EQUALIFICATION.

DISCLOSURE 9 – 

• Event Date: 9/18/1983
• Disclosure Type: Customer Dispute
• Disclosure Resolution: Award / Judgment
• Disclosure Detail :: Allegations: THE REPRESENTATIVE, KOTLOVKER,DID NOT FOLLOW PROPER PROCEDURES IN HANDLING HIS ACCOUNT, INCLUDING THE MAKING OF TRADES WITHOUT HIS PERMISSION. MR. KOTLOVKER WAS BRANCH MANAGER.
• Damage Amount Requested: $15,000.00
• Damages Granted: $15,350.00
• Broker Comment: BY DECISION DATED 9/18/83 THE ARBITRATION PANEL FOUND THAT ADVEST, INC. SHOULD PAY THE $15,350 BUT THAT ADVEST, INC. HAD THE RIGHT TO SEEK CONTRIBUTION FROM MR. KURINSKY AND THE REGISTERED REPRESENTIVE FOR $10,000 OF THAT AMOUNT. THE AWARD CHARGED COSTS OF $1,050 TO ADVEST, INC. ADVEST, INC. HAS PAID FULL AWARD AND IS CURRENTLY SEEKING CONTRIBUTION FROM MR. KURINSKY. MR. KURINSKY STATES THAT HE DID NOT KNOW OF AND IS IN NO WAY PERSONALLY RESPONSIBLE FOR THE DEALINGS BETWEEN A REGISTERED REPRESENTATIVE IN THE ADVEST, INC. OFFICE AND A CUSTOMER. HE IS CURRENTLY INVOLVED IN LITIGATION WITH ADVEST, INC. OVER THIS AND OTHER ISSUES.

According to a study prepared for the FINRA Investor Education Foundation, 80 percent of American investors report that they have been solicited to participate in a fraud scheme, while 11 percent of American investors report that they personally lost money as a result of fraud.

FINRA notes that the rate of investment fraud is most likely much higher than it is reported. This is because many victims of financial advisor scams are too ashamed to come forward. Further, the study also found that a significant number of investors do not know how to spot common red flags of investment fraud. The least you should do is share your experience with other potential victims of investment scams.

Previous Associations

Under federal securities law and securities industry regulations, registered investment firms have a legal duty to supervise their financial advisors. Section 15(b)(4)(E) of the Securities and Exchange Act of 1934 makes a securities firm liable for the conduct of representatives.

• FIRST MONTAUK SECURITIES CORP. (CRD#: 13755) :: 9/15/1986 – 12/31/2006 :: RED BANK, NJ
• HOMESTEAD SECURITIES, INC. (CRD#: 15162) :: 8/14/1984 – 11/25/1986
• PHILIPS, APPEL & WALDEN, INC. (CRD#: 659) :: 4/27/1983 – 8/31/1984
• FITTIN, CUNNINGHAM & LAUZON, INC. (CRD#: 6866) :: 2/27/1982 – 4/18/1983
• ADVEST, INC. (CRD#: 10) :: 11/25/1977 – 2/23/1982
• HUGH JOHNSON & COMPANY INC. (CRD#: 417) :: 3/25/1974 – 12/9/1977
• S D LUNT & COMPANY (CRD#: 1000001) :: 3/5/1969 – 2/10/1974

The duty to supervise securities representatives is a strong legal requirement. Registered investment firms must take many different steps to ensure that they are protecting their customers from irresponsible and criminal financial advisors.

Legit or Not?

Unfortunately, stockbroker fraud is more common than many investors would like to think. And yes, stockbrokers (including Herbert Kurinsky, but not limited to)  can (and do) steal money from their clients. While it’s rare that a broker will literally steal his client’s money (though that does happen), typically the “theft” of investment funds comes in the form of other fraudulent violations of securities law and FINRA rules which leads to significant investment losses.

Investors generally understand that there are risks associated with buying and selling securities. The market can go up, and the market can go down. No matter how skilled of an investor you are, there are always risks. With that being said, sometimes investment losses cannot be blamed on simple back luck.

There are 10 major types of complaints we receive against Investment Brokers –

• Outright Theft (Conversion of Funds)
• Unauthorized Trading
• Misrepresentation or Omission of Material Facts
• Excessive Trading (Churning)
• Lack of Diversification
• Unsuitable Investment Recommendations
• Failure to Disclose a Personal Conflict of Interest
• Front Running of Transactions
• Breakpoint Sale Violations
• Negligent Portfolio Management

Do your due diligence before investing. Public records are available for everybody to review and decide on the safest bet. 

How to Protect Yourself

We, as citizens, place a great deal of trust in the financial advisors who are tasked with helping us achieve and maintain financial security. Most of the time financial advisors and stockbrokers are honest folks who work diligently in their client’s best interests. However, on occasion financial advisors and the brokerage firms who employ them mess up and cause serious financial harm to their clients. Sometimes these losses are caused by simple negligence. Other times fraud or other serious misconduct is to blame.

Here are 5 signs that your broker needs to be reported –

• Breach of Fiduciary Duty: Under the Investment Advisers Act of 1940, certain investment professionals, known as registered investment advisors (RIAs), owe fiduciary obligations to their customers. Your investment broker must always look out for your best interests. If you lost money because of your broker’s breach of fiduciary duty, you may be entitled to compensation for the full value of your damages.
• Unsuitable Investments: Many financial advisors are not fiduciaries. Instead, they are held to the suitability standard. These stockbrokers and financial advisors can only sell and recommend financial products that are appropriate for a customer’s unique investment profile. If you lost money in unsuitable investments, you should consider reporting them.
• Material Misrepresentations or Omissions: Brokers have a duty to make fair and honest representations to their clients. If they fail to do so, and an investor loses money due to a misrepresentation or a material omission, the broker may be liable for the investor’s losses.
• Lack of Diversification: Brokers must also act with the appropriate level of professional skill. Pushing a customer into over-concentrated investments is highly risky. Brokers can be held liable for losses sustained because of an investor’s inappropriate lack of diversification.
• Excessive Trading (Churning): Stockbrokers and financial advisors must have a well-grounded, reasonable basis to execute all trades. Unfortunately, there are cases in which brokers will frequently trade on a customer’s account, simply to increase their own fees. This unlawful practice is known as churning.
• Unauthorized Trading: Brokers must have the proper legal authority to make transactions on behalf of a client. If you lost money because your broker made trades that you never approved of, you may have been the victim of unauthorized trading. You should consult with an experienced attorney.

Report Herbert Kurinsky

In order to prevail in an investment fraud lawsuit or FINRA arbitration cases, you must be able to assert a viable ‘cause of action’.

Herbert Kurinsky – and the firm that employs this broker – is regulated by the Financial Industry Regulatory Authority (FINRA). FINRA provides an online form to allow investors to file a formal complaint against their financial advisor, stockbroker, or brokerage firm.

Click here to go to FINRA’s Online Complaint Form →

This form will ask you for specific information related to your complaint. Be prepared by gathering the following:

• Name and symbol for the investment product in question.
• The CRD number (276776) for the broker – Herbert Kurinsky
• Your complete contact information.

Remember, it is advised to report your broker to FINRA, only after you have exhausted all of your other remedies and carefully prepared a compelling complaint.  Once you file a complaint against your broker at FINRA, your case will be bound by FINRA’s rules and the arbitration panel’s eventual decision. The time clock will start, and your complaint will be served on your broker or broker-dealer.

The views and opinions expressed in these articles are those of the source BROKERCOMPLAINTS.COM and do not necessarily reflect the official position of ‘Complaints Bureau,’ which shall not be held liable for any inaccuracies presented. The information provided within this article is for general informational purposes only. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose.

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