Thomas Kuchta Faces Six-Month FINRA Suspension

Thomas Kuchta (CRD #: 7503797), a broker formerly registered with Goldman Sachs & Company, has been suspended by FINRA, according to his BrokerCheck record, accessed on November 6, 2024. Keep reading if you want to know more about his alleged conduct as a broker.

FINRA Suspension

On October 17, 2024, Thomas Kuchta consented to the entry of findings that he allegedly failed to disclose and receive consent from Goldman Sachs for three brokerage accounts held with two other FINRA member firms.

According to a Letter of Acceptance, Waiver & Consent (AWC), Thomas Kuchta allegedly joined Goldman Sachs’ Investment Banking Division in February 2022. At this time, the firm’s policies allegedly required all employees to disclose all existing brokerage accounts upon hire and to obtain the firm’s approval before opening any new brokerage accounts.

Investment Banking Division employees were allegedly also prohibited from engaging in transactions involving certain securities for which the firm performed investment banking services, including exchange-traded funds (ETFs) involving those securities.

The AWC alleged that Thomas Kuchta had three brokerage accounts held at two firms in February 2022 and failed to disclose these to Goldman Sachs within 30 days of becoming associated with the firm. He allegedly also failed to disclose his association with Goldman Sachs to these two other firms.

Thomas Kuchta allegedly used two of his undisclosed brokerage accounts to execute ETF transactions involving underlying securities that Goldman Sachs’ policies prohibited trading in. Further, the AWC alleged that Thomas Kuchta opened a fourth undisclosed brokerage account in November 2022 with a third outside firm.

The AWC concluded that these allegations constitute violations of FINRA Rules 3210.01, 3210(a) and 2010.

FINRA Rule 3210

FINRA Rule 3210 prohibits brokers from opening an investment account at any other brokerage firm besides the firm where they are registered representatives, unless they have the prior written consent of their firm. 

FINRA Rule 3210.01 specifies that accounts opened prior to a broker’s association with a member firm must be disclosed within 30 days of that association.

FINRA Rule 2010

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

Sanctions

Thomas Kuchta consented to the following sanctions:

• Six-month suspension from associating with FINRA members
• $10,000 fine

His suspension began on October 21, 2024, and will end on April 20, 2025. You can access the full AWC here.

Termination from Goldman Sachs

On February 11, 2023, Thomas Kuchta was fired from Goldman Sachs & Company following allegations that he failed to disclose his personal trading accounts to the firm.

Background Information

Thomas Kuchta has passed the following exams:

• Series 79TO – Investment Banking Registered Representative Examination
• SIE – Securities Industry Essentials Examination

He previously worked for Goldman Sachs & Company (CRD#:361).

Kurta Law Can Help

If you worked with Thomas Kuchta 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.