Investor Alleges James Rutkowski Misrepresented Unsuitable Variable Annuities
James Rutkowski (CRD #: 2044538), a broker registered with Equitable Advisors, allegedly misrepresented variable annuities, according to his BrokerCheck record, accessed on November 28, 2022. Read on to learn more about his alleged conduct as a broker.
Investor Dispute
On October 10, 2022, an investor alleged James Rutkowski misrepresented unsuitable variable annuity contracts in 2022. This dispute is currently pending.
Variable annuities are complex financial products that often do not suit investors’ needs. These contracts come with fees, costs, and potential tax liabilities that need to be disclosed. Brokers should also disclose the possibility for these policies to lose money due to market fluctuations.
FINRA Rule 2020
FINRA Rule 2020 bans the use of manipulative, deceptive, and otherwise fraudulent means of influencing the purchase and sale of securities. The misrepresentation or omission of information related to investments violates this rule.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Misrepresentation also violates FINRA Rule 2010.
Background Information
James Rutkowski has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
James Rutkowski is a registered broker in New York.
He has also worked for The Equitable Life Assurance Society of the United States (CRD#:4039).
Kurta Law Can Help
If you worked with James Rutkowski 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.