Jonathan Hurwitz Subject of a FINRA Investigation

Jonathan Hurwitz (CRD #: 2580461), a broker registered with David Lerner Associates, is the subject of a FINRA investigation. This is according to his BrokerCheck record, accessed on June 4, 2024. Details concerning this dispute are provided below. 

Investigation

On March 18, 2024, FINRA made a preliminary determination to recommend that disciplinary action be brought against Jonathan Hurwitz alleging violations of FINRA Rule 3110 for failing to supervise sales of Energy 11, L.P., and Energy 12, L.P. These recommendations also allegedly violated FINRA Rule 2111 and 2010 because Jonathan Hurwitz also failed to have a reasonable basis to believe the investments were suitable for those customers based on their investor profiles. 

Failure to Supervise 3110

FINRA Rule 3110 requires that firms establish supervisory systems to maintain their compliance with securities regulations. Their systems of supervision should be able to catch unsuitable recommendations. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Background Information 

Jonathan Hurwitz 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 7 General Securities Representative Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 53 Municipal Securities Principal Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in 21 states and D.C. He is also a registered investment adviser in Connecticut. 

During his 29 years of experience, Jonathan Hurwitz has registered with three firms: 

• David Lerner Associates (CRD #: 5397)
• Spirit of America Management (CRD #: 110023)
• NYLife Securities (CRD #: 5167) 

Kurta Law Can Help 

If you have worked with Jonathan Hurwitz and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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.