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Lone Peak Advisers Fires Travis Hudak for Allegedly Failing to Supervise

Dec 31, 2021 Failure to Supervise

Travis Hudak (CRD #:3128251), a formerly registered broker, was recently fired by  Lone Peak Advisers according to his  BrokerCheck record, accessed on December 14, 2021.  

Termination Details 

On November 15, 2021, Lone Peak Advisers fired Travis Hudak after allegedly failing to supervise. According to the allegations, Travis Hudak failed to supervise his duties as the delegated compliance officer of marketing, advertising, and sales literature. 

What is FINRA’s "Failure to Supervise" Rule? 

FINRA’s rules guide the conduct of its members, and these rules include requirements that firms supervise their brokers and financial advisers. The rule addressing supervision is FINRA Rule 3110.  

FINRA 3110 requires firms to maintain a supervisory system reasonably designed to achieve compliance with FINRA rules. It also requires that the firm designate a registered principle whose job it is to carry out supervisory responsibilities. The firm must make reasonable efforts to determine that all supervisory personnel are qualified, either by experience or training. 

Background Information 

Travis Hudak has passed the following exams: 

  • Series 65 - Uniform Investment Adviser Law Examination 
  • Series 63 - Uniform Securities Agent State Law Examination 
  • SIE - Securities Industry Essentials Examination 
  • Series 7 - General Securities Representative Examination 
  • Series 24 - General Securities Principal Examination 

Travis Hudak has also worked with the following firms:  

  • Transitional Broker (CRD#:304313) 
  • H. Beck, Inc. (CRD#:1763) 
  • Gunnallen Financial(CRD#:17609) 
  • Investment Management Corporation (CRD#:37196) 
  • Eagle Gate Securities (CRD#:46959) 
  • UBS Painewebber (CRD#:8174) 
  • Fidelity Brokerage Services (CRD#:7784) 

Kurta Law Can Help 

If you have been victimized after working with Travis Hudak, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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.