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Harold Reinstein Allegedly Recommended Unsuitable Investments

Harold Reinstein (CRD #: 2516822), a broker registered with First Republic Securities Company, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on January 26, 2023. Investors may have also worked with him through First Republic Investment Management. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

In a dispute filed on November 14, 2022, an investor alleged that Harold Reinstein made unsuitable investment recommendations in March 2022. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an outside review. Investors can still pursue FINRA arbitration after a denial and may be able to recover their funds.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must take into account an investor’s age, risk tolerance, tax status, and other characteristics described in their profile.

Investors who rely on brokers for investment recommendations can seek out FINRA arbitration and potentially recover their losses.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of many other rules may also violate FINRA Rule 2010.

Background Information

Harold Reinstein 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 31 – Futures Managed Funds 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

Harold Reinstein is a registered broker in 40 states, the District of Columbia, and the Virgin Islands. He is also a registered investment adviser in New York.

He has also worked for Merrill Lynch Pierce Fenner & Smith (CRD#:7691) and Prudential Securities (CRD#:7471).

Kurta Law Can Help

If you worked with Harold Reinstein 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.