Thakoor Balkaran Subject of New York Regulatory Action

Thakoor Balkaran (CRD #: 2506670), a broker registered with Voya Financial Advisors, was sanctioned by the State of New York, according to his BrokerCheck record, accessed on August 17, 2025. If you have questions about his alleged conduct as a broker, keep reading.

New York Regulatory Action

On July 9, 2025, the New York Department of Financial Services alleged that Thakoor Balkaran violated Section 2110(a)(4) and Section 2132(g) of Chapter 28 of the New York Consolidated Laws by submitting a license renewal application that contained false and/or inaccurate information.

Thakoor Balkaran consented to a sanction of $7,500.

New York Consolidated Laws

Section 2110(a)(4) of Chapter 28 of the New York Consolidated Laws allows the superintendent of the New York Department of Financial Services to suspend an insurance producer, consultant, adjuster or life settlement broker’s insurance license if they are found to have engaged in fraudulent or dishonest practices.

Section 2132(g) requires persons subject to continuing education requirements to submit a certification attesting their success completion of these requirements to the superintendent.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Suspension

On January 25, 2024, Thakoor Balkaran consented to the entry of findings that he allegedly falsely certified to the State of New York that he had personally completed certain continuing education (CE) credits.

In a Letter of Acceptance, Waiver & Consent (AWC), FINRA alleged that Thakoor Balkaran certified to the State of New York in 2022 that he had completed 15 hours of insurance CE credits when, in fact, another individual had completed them on his behalf.

The AWC concluded that these allegations constituted a violation of FINRA Rule 2010.

Sanctions

Thakoor Balkaran consented to the following sanctions:

• One-month suspension from associating with FINRA members
• $5,000 fine

His suspension ran from February 20 to March 19, 2024. You can read the full AWC here.

Background Information

Thakoor Balkaran has passed the following exams:

• General Securities Sales Supervisor – Options Module Examination – Series 9
• General Securities Sales Supervisor – General Module Examination – Series 10
• General Securities Principal Examination – Series 24
• General Securities Sales Supervisor Examination (Options Module & General Module) – Series 8
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

Thakoor Balkaran is a registered broker in eight states and a registered investment adviser in New Jersey and New York.

He has also worked for the following firms:

• ING Financial Advisers (CRD#:34815) 
• TD Waterhouse Investor Services (CRD#:7870) 
• Dunhill Equities (CRD#:21822) 

Kurta Law Can Help

If you worked with Thakoor Balkaran 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 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.