Kovack Securities Inc
The attorneys at Gana Weinstein LLP can analyze your investments to determine if there was actionable misconduct by the broker or brokerage firm. The law offices of Gana Weinstein LLP represents investors that have disputes with their financial advisors or brokerage firms, such as Kovack Securities Inc (Kovak). Many investors do not realize when their financial advisor engages in securities misconduct, but there are steps that can be taken to recover losses. There are many different types of securities related misconduct including breach of fiduciary duty, failure to supervise, false representations, and churning.
Kovack Securities Inc is a brokerage firm that provides financial advisory services for entrepreneurial financial advisors and representatives. The firm is affiliated with Kovack International Advisors Inc., Kovack International Securities Inc., and Kovack Advisors Inc, which are all an entity under common ownership.
Kovack Securities Inc - By the Numbers:
- CRD #: 44848
- SEC #: 50847
- Regulatory Events: 3
- Customer Complaints: 5
- Employees: 388
Kovack Securities Inc - In the News:
FINRA v. Kovack Securities Inc (Case #: 2014041840501) - Kovack was fined $125,000 due to the findings that showed that the firm allegedly failed to detect and apply sales charge discounts to certain customers' eligible purchases of unit investment trusts. The failure to do so, resulted in excessive charges for customers. Kovack also lacked a proper supervisory system that ensured the application of sales charge discounts to all eligible customers. In addition, allegedly the firm failed to effectively train and inform supervisors and representatives to apply sales charge discounts to their customer's accounts.
Maryland Division of Securities v. Kovack Securities Inc (Case #: 2000-0076) - The firm was fined $1,500.00 for violating the MD Securities Act in having an agent that was not registered in Maryland.
FINRA v. Kovack Securities Inc (Case #: 07-02973) - Kovack was fined $530,000 by FINRA for their alleged breach of contract, breach of their fiduciary duty, negligence, and failure to supervise regarding a specific account.