Edward Rudiger Allegedly Executed Unauthorized Trades

Edward Rudiger (CRD #: 2118724), a broker registered with Reid & Rudiger, is involved in two pending disputes, according to his BrokerCheck record, accessed on February 8, 2023. If you have questions about his alleged conduct as a broker, keep reading.

Investor Disputes

Two disputes, filed on August 8 and December 2, 2022, collectively alleged that Edward Rudiger executed unauthorized transactions and engaged in excessive trading, and charged excessive commissions. These disputes are currently pending.

In a dispute filed on May 18, 2020, another investor alleged that Edward Rudiger executed unauthorized transactions. This dispute was denied by the firm.

However, investors should be aware that firms can deny disputes without an external review. Investors can still pursue FINRA arbitration after a denial and may be able to recover their losses.

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which restricts brokers from exercising their trading discretion beyond pre-authorized discretionary accounts.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Tax Lien

On February 20, 2020, Edward Rudiger was subject to a $190,636 tax lien.

Settled Arbitration

In a dispute filed on June 11, 2019, an investor named Edward Rudiger in allegations of the following:

• Statutory and common law fraud
• Misrepresentation
• Negligence, including negligent supervision and misrepresentation
• Breach of contract
• Unjust enrichment
• Violation of the Pennsylvania Elder Financial Abuse Statute
• Breach of the covenants of good faith and fair dealing

The investor sought $279,577 and received a settlement of $98,666. The arbitration award also made Edward Rudiger liable for interest, attorneys’ fees, and other fees. You can read the full arbitration award here.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative or deceptive tactics, including the misrepresentation or omission of material facts, in relation to the purchase and sale of securities.

FINRA Rule 2150

FINRA Rule 2150 prohibits the improper use of investors’ funds.

What is broker negligence?

Brokers may act in many negligent ways, including by giving unsuitable investment recommendations, misrepresenting or omitting facts, or failing to supervise other brokers.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration. 

Background Information

Edward Rudiger has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• Series 79TO – Investment Banking Registered Representative Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Edward Rudiger is a registered broker in 43 states and the District of Columbia.

He has also worked for Nichols, Safina, Lerner & Company (CRD#:35476) and Gruntal & Company (CRD#:372).

Kurta Law Can Help

If you worked with Edward Rudiger and you have concerns about your investments, contact a New York investment fraud lawyer today for a free case evaluation. Call (877) 600-0098 or email info@kurtalawfirm.com.

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.