Investor Alleges Ben Sutak Executed Unauthorized and Excessive Trades

Ben Sutak (CRD #: 5580389), a broker registered with ThinkEquity, allegedly committed multiple FINRA violations, according to his BrokerCheck record, accessed on November 5, 2022. Read on if you want to know more about his conduct as a broker.

Investor Dispute

In a pending dispute, an investor alleges that Ben Sutak executed unauthorized trades, charged excessive commissions, made misrepresentations, and churned their account. The client also makes additional claims involving the unsuitability of investments.

The investor seeks disgorgement of commissions in the amount of $296,239.65.

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which restricts brokers from engaging in discretionary trading outside pre-approved discretionary accounts.

FINRA Rule 2020

The misrepresentation of information related to investments violates FINRA Rule 2020, which forbids the use of deception, manipulation, and other fraudulent tactics to influence investors’ decisions.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must take into account the characteristics described in an investor’s profile, such as their age, tax status, and other investments.

Churning, or excessive trading, violates the requirement for quantitative suitability. In other words, the overall trading activity in an account must also be suitable for a client’s profile.

Investors who rely on their broker for recommendations may be able to recover their losses through FINRA arbitration.

Background Information

Ben Sutak has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Ben Sutak is a registered broker in 28 states.

He has also worked for the following firms:

• Westpark Capital (CRD#:39914)
• Fordham Financial Management (CRD#:20996)
• John Carris Investments (CRD#:145767)
• Aegis Capital Corporation (CRD#:15007)
• Westrock Advisors (CRD#:114338)
• ICM Capital Markets (CRD#:103725)
• National Securities Corporation (CRD#:7569)

Kurta Law Can Help

If you worked with Ben Sutak and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.