Howard Hoffer (CRD #1398357) Has Customer Dispute Disclosures on FINRA BrokerCheck

Howard Hoffer (CRD #1398357) is a broker with customer dispute disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on June 10, 2026. It reflects two customer disputes. If you invested with Howard Hoffer and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Howard Hoffer’s FINRA BrokerCheck Report reflects two customer dispute disclosures. A summary of the disputes is below.

On April 15, 2026, a customer alleged Howard Hoffer made an unauthorized purchase of INOQ stock 16 months earlier. The customer sought $4,689 in damages. Howard Hoffer’s FINRA BrokerCheck report lists the product as Equity-OTC. David Lerner Associates, Inc. denied the complaint on May 11, 2026.

On October 31, 2002, a customer alleged the representative was confusing about fee structures and transfers. The customer sought $40,000 in damages. Howard Hoffer’s FINRA BrokerCheck report lists the product as no product. The complaint closed with no action on January 16, 2003.

Rule Summary #1: FINRA Rule 3260 (Discretionary Accounts)

FINRA Rule 3260 covers discretionary accounts and trades made with discretionary power. Customer disputes about unauthorized trades may raise questions about permission, records, and firm review.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor)

FINRA Rule 2010 requires members to observe high standards of commercial honor and just and equitable principles of trade. Investors may cite this rule when they believe account activity or communication was unfair.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Howard Hoffer:

Is currently registered with David Lerner Associates, Inc.

Has passed the Securities Industry Essentials (SIE) exam. Howard Hoffer has passed Series 7. He has also passed Series 63.

Was previously registered with First Long Island Securities Inc.

Kurta Law Can Help

If you have worked with Howard Hoffer and have concerns, Kurta Law may be able to help. The firm can help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unauthorized Trading | Securities Attorney

For nearly 20 years, Kurta Law has advocated for investors. The firm has helped hold financial professionals accountable. It represents clients nationwide in securities arbitration and related disputes. An attorney can review the facts and explain possible next steps.