Victim of Financial Fraud? Call Now

Investor Alleges Elan Sanker Engaged in Selling Away

May 12, 2023 Selling Away

Elan Sanker (CRD #: 5580543), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, was involved in an investor dispute, according to his BrokerCheck record, accessed on May 5, 2023. If you have questions about his alleged conduct as a broker, read on.

Investor Dispute

On February 10, 2023, an investor filed a dispute alleging that Elan Sanker engaged in selling away in January 2020. This dispute was denied by the firm.

However, investors should be aware that firms can deny disputes without allowing an outside review. Investors may still be able to recover their funds by seeking out FINRA arbitration after a denial.

FINRA Rule 3280

FINRA Rule 3280 requires brokers to provide written notice to their firm before engaging in private securities transactions. This includes selling away, which is the practice of brokers selling investments not offered or approved by their firm.

Background Information

Elan Sanker has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 9 – General Securities Sales Supervisor – Options Module Examination
  • Series 10 – General Securities Sales Supervisor – General Module Examination
  • Series 24 – General Securities Principal Examination

Elan Sanker is a registered broker in all 50 states and the District of Columbia and Puerto Rico. He is also a registered investment adviser in New Jersey.

He has also worked for the following firms:

  • Northwestern Mutual Investment Services (CRD#:2881)
  • Edward Jones (CRD#:250)
  • UBS Financial Services (CRD#:8174)
  • AXA Advisors (CRD#:6627)

Kurta Law Can Help

If you worked with Elan Sanker 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.