Bryan Lubitz Alleged Executed Excessive and Unauthorized Trades
Bryan Lubitz (CRD #: 4381244), a broker registered with Equitable Advisors, allegedly engaged in excessive trading, according to his BrokerCheck record, accessed on February 16, 2023. If you want to know more about his alleged conduct as a broker, read on.
On January 18, 2023, an investor alleged that Bryan Lubitz engaged in the following forms of misconduct between March 2013 and August 2022:
- Churning and other violations of the suitability rule
- Unauthorized trading
- Misrepresentation and omission of material facts
- Breach of contract
The client seeks $139,224 in damages in this pending dispute.
In a dispute filed on March 8, 2022, an investor alleged that Bryan Lubitz made unsuitable investment recommendations between August 2018 and April 2021. The client sought $71,000 in damages but the dispute was denied by the firm.
However, investors should know that firms can deny disputes without an outside review. Investors can still pursue FINRA arbitration after a denial and may be able to recoup their losses.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. An investor’s profile contains information about their risk tolerance, tax status, and age.
Churning, also called excessive trading, violates this rule by being quantitatively unsuitable. In other words, brokers cannot execute such a high number of trades that their overall trading activity is unsuitable for the client.
Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.
FINRA Rule 3260
FINRA Rule 3260 prohibits brokers from conducting discretionary trading outside accounts approved in advance by their client and firm.
FINRA Rule 2020
FINRA Rule 2020 prohibits the use of manipulative or deceptive tactics as they relate to the purchase and sale of securities. This includes the misrepresentation or omission of material facts related to investments.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
What is broker negligence?
Brokers may act in many negligent ways. Some typical examples include unsuitable investment recommendations, misrepresentations or omissions of fact, and excessive trading.
Investors who have lost money through broker negligence may be able to recover their funds by pursuing FINRA arbitration.
Bryan Lubitz has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Bryan Lubitz is a registered broker in 25 states.
He has also worked for the following firms:
- Aegis Capital Corporation (CRD#:15007)
- Newbridge Securities (CRD#:104065)
- Trident Partners (CRD#:41258)
Kurta Law Can Help
If you worked with Bryan Lubitz and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.