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Gilbert Kuta Suspended and Fined By FINRA Over Unauthorized Trades

Sep 20, 2021 AWC

Gilbert Kuta (CRD #: 1084075), a broker registered with Aegis Capital Corp., is the subject of a FINRA fine, according to his BrokerCheck record, accessed on September 8, 2021. Gilbert Kuta also has a long list of investor disputes on his record in addition to the FINRA regulatory action.

On July 27, 2021, Gilbert Kuta entered into an Acceptance, Waiver, and Consent agreement (AWC) in which he consented to the findings that he exercised discretion in investor accounts without authorization and executed 50 unauthorized trades. The firm had allegedly not approved any of these accounts for discretionary trading. As part of the AWC, Gilbert Kuta consented to a $5,000 fine and a 10-day suspension. You can read a copy of the AWC here.

Settled Investor Disputes

Two investor disputes alleged that Gilbert Kuta churned investor accounts. “Churning” means that the broker executed excessive trades in order to generate more commissions for themselves. These disputes were collectively resolved for $292,500.  

Gilbert Kuta Background Information

Gilbert Kuta has passed the following exams:

  • Series 65 Uniform Investment Adviser Law Examination
  • Series 63 Uniform Securities Agent State Law Examination
  • Securities Industry Essentials Examination
  • Series 31 Futures Managed Funds Examination
  • Series 15 Foreign Currency Options Examination
  • Series 7 General Securities Representative Examination

He is a registered broker in 12 states and is a registered investment adviser in Maryland.

Gilbert Kuta has worked with the following firms:

  • Aegis Capital Corp (CRD #: 15007)
  • Capitol Securities Management (CRD #: 14169)
  • RBC Capital Markets (CRD #: 31194)
  • Ferris Baker Watts (CRD #: 285)
  • Smith Barney Shearson (CRD #: 7059)
  • Lehman Brothers (CRD #: 7506)
  • Painewebber (CRD #: 8174)
  • G. Edwards & Sons (CRD #: 4)
  • Laidlaw Ansbacher (CRD #: 1481)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)

Kurta Law Can Help

If you worked with Gilbert Kuta and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email info@kurtalawfirm.com.