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Investor Alleges Yitzchak Prag Made Misrepresentations

Securities Lawyer Jonathan Kurta
By: Jonathan Kurta Author
September 23, 2025 at 11:29pm

Yitzchak Prag (CRD #: 7221045), a broker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, allegedly made misrepresentations, according to his BrokerCheck record, accessed on August 10, 2025. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On June 24, 2025, an investor alleged that Yitzchak Prag made misrepresentations and investment recommendations that were not in their best interest. This dispute is currently pending.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence the purchase and sale of securities. Misrepresenting an investment’s features, fees, risks, or potential returns violates this rule.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information

Yitzchak Prag has passed the following exams:

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

He previously worked for Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691).

Kurta Law Can Help

If you worked with Yitzchak Prag 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. 

 

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