July 2016-Coral Springs, Florida
The FINRA records of Stuart Horowitz , a former stock broker employed by Securities America , disclose a prior final regulatory event, 33 prior customer disputes, 4 currently pending customer disputes and a separation from employment.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In February 2016, without admitting or denying the findings, Horowitz entered into an agreement with FINRA to resolve allegations that he recommended and engaged in unsuitable trading in preferred notes of an unregistered limited partnership investment fund. Horowitz was fined $100,000 and suspended for a year. He is not currently registered with any FINRA broker dealer.
Horowitz’s FINRA disclosure indicates that 31 customer cases have been settled, including:
- A tenant in common (TIC) investment in 2005 while Horowitz was employed by NFP Advisors resulted in a settlement of $100,000.
- FINRA Case 15-0367, involving another TIC investment while Horowitz was employed by NFP Advisor Services resulted in a settlement of $50,000.
- In FINRA Case 13-02685 a customer of NFP Securities alleged damages of $590,000 on alternative investments. That case resulted in a settlement of $184,000.
Horowitz was employed by Securities America from 2/2009 until 1/2016 when he was ‘permitted to resign’. Securities America made the following statement in connection with his termination: “After consultation with FINRA, Stuart Horowitz in and agreement with FINRA proposed to resign prior to FINRA’s planned suspension and subsequent fine. Mr. Horowitz will be permitted to resign on January 25, 2016”.
Investors who suffered losses in an account handled by Stuart Horowitz may be entitled to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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