Nicholas Kraiko Barred Following FINRA Requests for Information
Nicholas Kraiko (CRD #: 5726415), a broker formerly registered with National Securities Corporation, was recently barred for allegedly failing to respond to FINRA requests for information, according to his BrokerCheck Record, accessed on November 17, 2021. Nicholas Kraiko’s alleged conduct is a violation of FINRA Rule 8210.
FINRA Rule 8210 requires members to provide information under oath if requested, regarding any matter that pertains to an investigation, complaint, examination, or proceeding. A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”
Pursuant to FINRA Rule 9552 and in accordance with FINRA’s Notice of Suspension letter dated August 17 and September 7, 2021, Nicholas Kraiko was suspended on November 15, 2021, from associating with any FINRA member firm in all capacities.
FINRA Rule 9552 applies in situations where a brokerage firm or representative has failed to provide information or keep information current. FINRA Rule 9552 is a Notice of Suspension if corrective action is not taken. Because Nicholas Kraiko failed to request termination of his suspension within three months of the date of the Notice of Suspension, he was automatically barred by FINRA.
On June 14, 2021, an investor alleged that Nicholas Kraiko misrepresented an investment. FINRA Rule 2020 states that brokers must “not induce the purchase or sale of any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” </>
Nicholas Kraiko’s Employment Termination Details
On February 24, 2021, Nicholas Kraiko was discharged from his position at National Securities Corporation following allegations that he refused to provide requested documentation in the review and resolution of a customer complaint by a client of the firm.
Nicholas Kraiko Background Information
Nicholas Kraiko has passed the following exams:
- Series 66 - Uniform Combined State Law Examination
- SIE - Securities Industry Essentials Examination
- Series 7 - General Securities Representative Examination
He has worked with the following firms
- National Securities Corporation (CRD#:7569)
- Princor Financial Services Corporation (CRD#:1137)
- Edward Jones (CRD#:250)
Kurta Law Can Help
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