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Jay Sofranko is Facing a Margin Account Dispute

Jay Sofranko (CRD #: 4658914), a broker registered with UBS Financial Services, is the subject of an investor dispute. Investors may also have engaged his services via The Sofranko Group. This disclosure appears on his BrokerCheck record, accessed on February 20, 2024. 

On December 13, 2023, an investor alleged that Jay Sofranko made an improper hold recommendation in response to an investor’s request to liquidate his portfolio to pay down his margin line. 

What is Margin Investing? 

Investing on margin is when an investor opens a margin account and borrows money from a brokerage firm in order to purchase more securities. Using borrowed money is called “leverage” and it increases the risk that the investor will lose money.

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Improper hold recommendations may violate this rule. 

Background Information 

Jay Sofranko has passed the following exams: 

  • Series 66 Uniform Combined State Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination
  • Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in 24 states and is a registered investment adviser in Pennsylvania and Texas. 

Kurta Law Can Help 

If you have worked with Jay Sofranko and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.

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