Frank Lumpuy Terminated by Kovack Securities

Frank Lumpuy (CRD #: 2108307) has been fired by Kovack Securities. This disclosure appears on his BrokerCheck record, accessed on March 5, 2024. Keep reading for more details. 

Employment Separation 

On February 23, 2024, Kovack Securities fired Frank Lumpuy following allegations involving a loan. 

Investor Dispute

On January 8, 2024, an investor alleged that she suffered losses in her accounts and that Frank Lumpuy borrowed money. 

FINRA Rule 3240

FINRA Rule 3240 describes the limited circumstances under which brokers may borrow from or lend to clients, such as loans between immediate family members.

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 3240 may violate this rule. 

Background Information 

Frank Lumpuy has passed the following exams: 

• Series 65 Uniform Investment Adviser 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 
• Series 24 General Securities Representative Examination 
• Series 26 Investment Company Products/Variable Contracts Principal Examination 

During his 32 years of experience, Frank Lumpuy has passed the following exams: 

• Kovack Securities (CRD #: 44848) 
• Newbridge Securities Corporation (CRD #: 104065) 
• High Mark Securities (CRD #: 42467) 
• AXA Advisors (CRD #: 6627) 
• The Equitable Life Assurance Society of the United States (CRD #: 4039) 

Kurta Law Can Help 

If you have worked with Frank Lumpuy and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.