Category Archives: Kovack Securities

Jason Skyler – TKG Financial Broker- Discloses Pending Customer Dispute – Santa Barbara, CA

May 2017- Santa Barbara, CA

According to publicly available records Jason B. Skyler (CRD#4634466) ,  a  stockbroker currently registered with Kovack Securities, discloses a pending customer dispute.

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 a 9/2016 claim, a customer of TKG Financial seeks unspecified damages and alleges throughout the life of the account that various trades are unauthorized, and that Skyler failed to follow client instructions.

Skyler has been employed  by Kovack Securities since 5/2017. He was previously employed by TKG Financial.

If you have questions about an account in an account handled by Jason Skyler contact us to discuss your legal options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Kovack Securities to Acquire TKG Financial

May 2017

Ft. Lauderdale-based Kovack Securities announced that they intend to acquire the assets of TKG Financial, Inc.

Kovack Securities has about 400 advisors nationwide.

TKG Financial,  based in Santa Barbara, CA, has 7 advisors and about $200 million in client assets.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Douglas W. Studer-Former Kovack Securities Broker-Barred by Securities Regulator-Ft. Lauderdale, FL

February 2017-Ft. Lauderdale, FL

According to publicly available records Douglas W. Studer , (CRD# 4440047) ,  a  former stockbroker who was last employed by Kovack Securities, disclose that he was permanently barred by FINRA from acting as a broker or otherwise associating with firms that sell securities to the public.

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 September 2016 , without admitting or denying the allegations, Studer consented to the entry of findings that he refused to appear before FINRA for on the record testimony in relation to an investigation into whether he had violated his employing member firm’s policy by being named in an elderly customer’s estate documents to inherit the customer’s waterfront condominium.

 

In November 2015, a customer of Studer’s prior employer, National Securities Corporation alleged damages in excess of $5,000 for unauthorized trading in mutual funds. That matter was settled for $60,010.

Public records reveal that Studer filed and was discharged from Chapter 7 Bankruptcy in April 2010.

Prior to Kovack Securities, Studer was employed by National Securities and before that by Prime Capital Services.

If you have questions about an account in an account handled by Douglas W. Studer, contact us to discuss your legal options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Gerald J. OHalloran- Kovack Securities Broker-Discloses Customer Disputes- Punta Gorda, FL

January 2017-Punta Gorda, FL

According to publicly available records Gerald J. OHalloran, (CRD# 1056697) ,  a  stockbroker currently employed by Kovack Securities  discloses five  prior finalized customer disputes, 3 pending customer disputes and two separations from employment after allegations.

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.

A customer of  Kovack Securities, filed FINRA Case 7-01446, alleging damages of $64,193 for recommending unauthorized trading. An arbitration panel awarded the customer $76,565.

In pending  FINRA Case 16-2140  a customer of Kovack Securities alleges damages of $135,000 for negligence , misrepresentation and other claims related to investments in real estate investment trusts (REITs).

In 5/2000  O Halloran  was ‘permitted to resign’ from A. G. Edwards  . In 9/ 1998, O Halloran was discharged from Edward D. Jones & Co for failure to comply with records keeping requirements.

O Halloran has been registered with Kovack Securities since May 2004.

If you have questions about an account in an account handled by Gerald J. O Halloran, contact us to discuss your legal options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Andrew Scheirer-Kovack Securities Broker-Discloses Customer Disputes-Sanford, FL

January 2017-Sanford, FL

According to publicly available records Andrew R. Scheirer, II (CRD# 4256666) ,  a  stockbroker currently employed by Kovack Securities  discloses two  prior finalized customer disputes and a separation from employment after allegations.

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.

A customer of Scheirer’s prior employer, First Allied Securities, filed FINRA Case 16-0772, alleging damages of $200,000 for recommending various unsuitable private equity products which the customer alleged were unsuitable investments. That case was settled for $30,000.

IN FINRA Case 14-0006 a customer of First Allied Securities alleged damages of $2,700,000 for common law fraud, negligent misrepresentation and other claims related to the investment in private equities. That case was settled for $650,000.

In 12/2014, Scheirer was ‘permitted to resign’ from First Allied Securities who made the following allegations in connection with the termination:“Investment adviser representative did not follow firm procedures in connection with a customer initiated arbitration proceeding.”

Scheirer has been registered with Kovack Securities since December 2014.  He was previously registered with First Allied Securities from 10/2007-12/2014. 

If you have questions about an account in an account handled by Andrew R. Scheirer, II, contact us to discuss your legal options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Ronald A. Christopher-Kovack Securities Broker-Discloses Customer Dispute-Altamonte Springs, FL

January 2017-Altamonte Springs, FL

According to publicly available records Ronald A. Christopher, Jr.  (CRD# 2892530) ,  a  stockbroker currently employed by Kovack Securities  discloses a  pending customer dispute.

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.

A customer of Christopher’s former employer Merrimac Corporate Securities has filed FINRA Case # 16-2963, seeking damages of $400,000 and  alleging that Christopher was negligent and sold unsuitable oil & gas and real estate investments (REITs).

Christopher has been registered with Kovack Securities since January 2014.  He was previously registered with Merrimac Corporate Securities (FINRA expelled Merrimac 3/2016)

If you have questions about an account in an account handled by Ronald A. Christopher, Jr. , contact us to discuss your legal options.

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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870