Edgar Kleydman Barred by FINRA For Allegedly Failing to Testify
Edgar Kleydman (CRD #: 2727571), a formerly registered broker with MML Investors Services, has been barred by FINRA, according to his BrokerCheck record, accessed on November 8, 2021.
According to an Acceptance, Waiver, and Consent agreement dated October 14, 2021, Edgar Kleydman consented to the findings that he allegedly refused to provide on-the-record testimony requested by FINRA in connection with its investigation into whether he engaged in private securities transactions without providing written notice to his member firm (AXA advisors).
The AWC further states Edgar Kleydman initially cooperated with FINRA’s investigation, however, he allegedly eased doing so in September 2021. Specifically, on September 21, 2021, FINRA sent a request to Edgar Kleydman for on-the-record testimony pursuant to FINRA Rule 8210. He reportedly acknowledged that he received FINRA’s request, and refused to appear for on-the-record testimony at any time.
By refusing to produce all the information and documents requested in accordance with FINRA Rule 8210, Edgar Kleydman also violated FINRA Rule 2010. A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”
You can read the whole AWC here.
As part of the terms of the AWC, Edgar Kleydman consented to a bar from associating with any FINRA member in all capacities.
Other Investor Disputes
Edgar Kleydman has three other investor disputes on his record.
On August 26, 2021, a dispute was filed against Edgar Kleydman alleging fraud; breach of fiduciary duty; unsuitability; breach of contract; and negligence. The damage amount requested is $35,650.64. The case is still pending.
On February 12, 2021, an investor alleged that Edgar Kleydman engaged in selling away — in other words, he sold his clients investments not offered by his brokerage firm. This is a violation of FINRA Rule 3280, which states that if a broker sells a security away from their firm, they must notify their firm in writing and receive written approval. The investor further alleged that he misrepresented the return and made a guarantee associated with the client’s funds. The dispute settled for $15,000.
On August 24, 2017, an investor alleged that Edgar Kleydman recommended an unsuitable equity-listed investment. The dispute settled for $55,000.
Edgar Kleydman has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
He has worked with the following firms:
- MML Investors Services (CRD#:10409)
- AXA Advisors (CRD#:6627)
- J.P. Morgan Securities (CRD#:79)
- Chase Investment Services (CRD#:25574)
- Capital One Investment Services (CRD#:25658)
- Woodbury Financial Services (CRD#: 421)
- Metropolitan Life Insurance Company (CRD#: 4095)
- Metlife Securities (CRD#: 14251)
Kurta Law Can Help
If you have suffered losses after working with Edgar Kleydman, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
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