The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA’s chief role is to protect investors by maintaining the fairness of the U.S. capital markets.
All stockbrokers and broker dealers (brokerage firms) are required to be licensed by and subject to the rules and regulations of FINRA. Each month FINRA publishes disciplinary actions against brokers and broker dealers. Discipline can range from monetary fines and suspensions, or in extreme cases, revocation of licensing and a bar from the securities industry.
See the FINRA website for current and historical disciplinary actions.
Aaron Nash Kazinec (CRD #2371296, Registered Representative, Weston, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Kazinec consented to the described sanction and to the entry of findings that he offered various non-securities fixed annuity investments to insurance customers. The findings stated that Kazinec told the customers to write checks, in varying amounts, and leave the payee field blank and/or to make the checks payable to cash. The customers complied, believing that Kazinec would use the funds for investments he had offered to them away from his brokerdealer. Kazinec took the checks from the customers and deposited them into his own bank account. Kazinec never invested the funds for the customers, instead using the funds for himself without the customers’ permission or knowledge. Kazinec misappropriated a total of $745,250. The findings also stated that Kazinec failed to timely update his Form U4 to reflect the existence of a federal tax lien. ( FINRA Case #2012035005801)
According to FINRA records, Kazinec was registered as follows:
Metlife Securities 03/2007-12/2012
Metroplitan Life Ins. 03/2007-07/2007
MML Investors Services 04/1998-03/2007
If you have questions about investment losses or the way your brokerage account has been handled, please contact us to discuss your legal rights.
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.
Florida-561 391 1900