Kenji Saito Allegedly Recommended an Unsuitably Risky Investment

Kenji Saito (CRD #: 5695201), a previously registered broker with Centaurus Financial, is the subject of a pending investor dispute. This is according to his BrokerCheck record, accessed on August 11, 2023. 

On June 29, 2023, an investor alleged that Kenji Saito recommended a high-risk, illiquid, and unsuitable investment. The investor is seeking $75,000. 

FINRA Rule 2111 – Unsuitable and Risky Investments 

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. 

• Investments can be unsuitable because they are high-risk likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information 

Kenji Saito has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 24 General Securities Principal Examination 

Kenji Saito has only ever registered with Centaurus Financial (CRD #: 30833). 

Kurta Law Can Help

If you worked with Kenji Saito 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.