Ibrahim Ethem Kurtulus (CRD #2287372) Has Regulatory Actions, Customer Disputes, and Other Disclosures on FINRA BrokerCheck
Ibrahim Ethem Kurtulus (CRD #2287372) has been the subject of disclosure events, which have been reported in connection with a FINRA BrokerCheck report. These disclosures include regulatory actions, customer disputes, an employment separation after allegations, and an outstanding tax lien.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Regulatory Actions
Ibrahim Kurtulus’s FINRA BrokerCheck report reflects three regulatory action disclosures. Two examples are summarized below.
On November 10, 2025, Ibrahim Kurtulus FINRA BrokerCheck reported that FINRA accepted an Acceptance, Waiver & Consent (AWC) in which Ibrahim Kurtulus consented to findings that he held a beneficial interest in two brokerage accounts maintained at other member firms in his wife’s name without obtaining prior written consent from his member firm. The report states he also submitted a personal activity questionnaire that inaccurately represented that he did not have a beneficial interest in any external investment accounts, and he later disclosed the accounts to his firm. FINRA imposed a $2,500 fine and a two-month suspension in all capacities (December 1, 2025 through January 31, 2026). AWC
On April 12, 2004, Ibrahim Kurtulus FINRA BrokerCheck reported that NASD initiated a regulatory action alleging that he opened brokerage accounts for public customers and effected transactions in those accounts without the customers’ prior knowledge, authorization, or consent. According to the report, the matter resulted in a $7,500 fine and a 10-business-day suspension (December 6, 2004 through December 17, 2004).
The report reflects one additional regulatory action disclosure.
Investor Disputes / Customer Complaints
Ibrahim Kurtulus’s FINRA BrokerCheck report reflects three customer dispute disclosures. Two examples are summarized below.
On September 11, 2023, Ibrahim Kurtulus FINRA BrokerCheck reported a customer dispute alleging unsuitable trading, overconcentration, and improper use of margin involving Equity-OTC. The customer claimed $875,000 in damages. The dispute was settled on January 9, 2025 for $125,000.
On October 18, 2017, Ibrahim Kurtulus FINRA BrokerCheck reported a customer complaint alleging unsuitable investment advice involving a Nasdaq stock. The customer claimed $100,000 in damages, and the matter was settled on July 3, 2018 for $14,999.99.
The report reflects one additional customer dispute disclosure.
Employment Separation After Allegations
According to Ibrahim Kurtulus’s FINRA BrokerCheck report, he was permitted to resign from A.S. Goldman & Company Inc. on May 14, 1993. The report describes allegations that he stole account statements of other brokers with the intent of selling them, and it includes a statement in which he denied the allegations.
Judgment / Lien
Ibrahim Kurtulus’s FINRA BrokerCheck report also reflects an outstanding tax lien. The lien is reported as $90,745.14 and lists the Internal Revenue Service as the lien holder. It was filed on May 5, 2021 in Richmond County, Staten Island, New York, and is reported as outstanding.
Rule Summary
Rule summary #1: FINRA Rule 3210 (Accounts at Other Broker-Dealers and Financial Institutions)
FINRA Rule 3210 generally requires associated persons to obtain their member firm’s prior written consent before opening or establishing an account at another broker-dealer or financial institution in which the associated person has a beneficial interest, helping firms supervise outside accounts and identify potential conflicts.
Rule summary #2: FINRA Rule 2010
FINRA Rule 2010 is a broad, principles-based rule requiring members and associated persons to observe high standards of commercial honor and just and equitable principles of trade.
Why this Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.
Reg BI is built around four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
- Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
- Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
- Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.
Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.
Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on his BrokerCheck report, Ibrahim Kurtulus:
Is currently registered with Joseph Stone Capital L.L.C. and has been registered there since June 2018.
Has passed the Securities Industry Essentials (SIE), Series 7, and Series 63 exams.
Was previously registered with firms that include Windsor Street Capital, LP and J.W. Barclay & Co., Inc.
Kurta Law Can Help
If you have worked with Ibrahim Ethem Kurtulus and you have concerns about his activity, Kurta Law may be able to help you evaluate potential recovery options. You may be entitled to pursue a claim through FINRA arbitration, depending on the facts of your situation and the investments involved. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
Helpful resources: Unsuitable Investments | Stockbroker Fraud; Overconcentration | Stockbroker Fraud
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