Kultar Bindra Allegedly Misrepresented an Investment

Kultar Bindra (CRD #: 6147537), a broker registered with Truist Investment Services, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on October 20, 2023. Keep reading if you have questions. 

On August 31, 2023, an investor alleged Kultar Bindra misrepresented an investment’s terms and rate of return. 

According to allegations filed on January 12, 2017, Kultar Bindra recommended unsuitable investments. The investors sought $650,000 and the dispute settled for $92,500. 

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

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. This rule also prohibits overconcentration, as placing too much of a portfolio in a single sector exposes the investor to unnecessary risk. 

Background Information 

Kultar Bindra has passed the following exams: 

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

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

Kultar Bindra has registered with the following firms: 

• Truist Investment Services (CRD #: 17499) 
• Truist Advisory Services (CRD #: 283390) 
• BB&T Securities (CRD #: 142785) 
• BB&T Investment Services (CRD #: 33856) 
• UBS Financial Services (CRD #: 8174) 
• Morgan Stanley (CRD #: 149777) 

Kurta Law Can Help

If you worked with Kultar Bindra and 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 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.