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Edwin Blitz Involved in Dispute Alleging Misleading Investment Recommendations

Edwin Blitz (CRD #: 23659), a broker formerly registered with Cabot Lodge Securities, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on June 15, 2023. If you have questions about his alleged conduct as a broker, read on.

Investor Dispute

On May 1, 2023, an investor alleged that Edwin Blitz engaged in the following forms of misconduct with regard to GWG L bonds renewed in May and November 2020:

This dispute is currently pending.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles describe an investor’s tax status, age, risk tolerance, and other characteristics.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. This includes the misrepresentation or omission of information, such as an investment’s potential fees, risks, or limitations.

What is broker negligence?

Brokers may act in many negligent ways, ranging from omitting material facts to executing unauthorized trades. Investors who have lost money through broker negligence may be able to recover their funds by seeking out FINRA arbitration.

Background Information

Edwin Blitz has passed the following exams:

  • SIE – Securities Industry Essentials Examination
  • Series 1 – Registered Representative Examination

He has also worked for the following firms:

  • Cabot Lodge Securities (CRD#:159712)
  • Kingsbury Capital (CRD#:7638)
  • Freedom Investors Corporation (CRD#:23714)
  • The Paul Revere Variable Annuity Insurance Company (CRD#:647)
  • Jules W. Noble & Associates (CRD#:2923)
  • Paul Revere Equity Sales Company (CRD#:2990)

Kurta Law Can Help

If you worked with Edwin Blitz 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.