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Investor Seeks Six Figures in Suitability Dispute with Dana Timchenko

Dana Timchenko (CRD #: 5540891), a broker registered with Morgan Stanley, allegedly recommended an unsuitable investment strategy, according to her BrokerCheck record, accessed on July 6, 2022. Keep reading to learn more about Dana Timchenko’s conduct as a broker.

Investor Dispute

On March 30, 2022, an investor alleged that Dana Timchenko recommended an unsuitable stock options strategy from December 2021 to March 2022, as well as other unspecified allegations. The client seeks $500,000 in this pending dispute.

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 information described in an investor’s profile, such as their age, tax status, and other investments.

Some ways securities may be unsuitable include a lack of liquidity or high degree of risk, leading to high fees and/or losses for the investor. An excessive number of trades violates the need for quantitative suitability, meaning that the overall trading activity is suitable for the client.

Investment strategies must also meet the requirements of suitability. Over-concentration in a certain stock or sector is frequently unsuitable because of its high-risk nature.

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

Background Information

Dana Timchenko has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Dana Timchenko is a registered broker in 21 states and a registered investment adviser in North Carolina and Texas.

She has also worked for UBS Financial Services (CRD#:8174).

Kurta Law Can Help

If you worked with Dana Timchenko and you have concerns about your investments, please contact us today at 877-600-0098 or 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.