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Ivan Gefen is Facing Investor Allegations of Negligence

Ivan Gefen (CRD #: 1229418), a broker registered with Newbridge Securities Corporation, is involved in his 10th investor dispute, according to his BrokerCheck record, accessed on July 27, 2023. Details are provided below. 

On May 17, 2023, an investor alleged that Ivan Gefen breached his fiduciary duty. They further alleged that he engaged in negligence, fraud, and violation of Regulation Best Interest. The investor is seeking $1.2 million. 

FINRA Rule 2111 Regulation Best Interest

Regulation Best Interest (Reg-BI) is a regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age. Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

What is Broker Negligence? 

Negligence covers a variety of broker misconduct, including a failure to conduct due diligence. Investors who believe their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration

Bankruptcy 

On March 15, 2019, Ivan Gefen discharged a bankruptcy. 

Background Information 

Ivan Gefen 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 3 National Commodity Futures Examination 
  • Series 7 General Securities Representative Examination 
  • Series 2 Non-Member General Securities Examination 
  • Series 52 Municipal Securities Representative Examination 

He is a registered broker in 10 states and is a registered investment adviser in Florida. 

Ivan Gefen has registered with the following firms: 

  • Newbridge Securities Corporation (CRD #: 104065) 
  • Newbridge Financial Services Group (CRD #: 130814) 
  • Morgan Stanley (CRD #: 149777) 
  • National Asset Management (CRD #: 115927) 
  • National Securities Corporation (CRD #: 7569) 
  • VFinance Investments, Inc. (CRD #: 44962) 
  • VFinance Investments (CRD #: 25121) 
  • Prudential Securities Incorporated (CRD #: 7471) 
  • First Miami Securities (CRD #: 7793) 

Kurta Law Can Help

If you worked with Ivan Gefen 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.