Sebastian Wyczawski Investigation
November 2021- Manorville, NY
According to publicly available records , Sebastian Wyczawski (CRD #2835135), a stockbroker formerly employed by Joseph Stone Capital, disclose a recent regulatory sanction and a settled 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.
FINRA AWC#2019063821602, 10/11/21-FINRA found that during 2016 & 2017, while he was registered with Joseph Stone, Wyczawski engaged in excessive trading, including the use of margin, in the accounts of two customers. Wyczawski recommended that one customer, whose account had an equity of about $51,000, enter into trades totaling more than $500,000. That account would have had to grow by more than 34% annually just to break even, according to FINRA.
In another customer’s account, with an average equity of just $15,000, Wyczawski recommended trades with a value of more than $300,000. That account would have had to grow by more than 65% annually just to break even, according to FINRA.
Without admitting or denying the findings, Wyczawski agreed to the following sanctions:
- A five month suspension from associating with any FINRA member in all capacities;
- a $5,000 fine
- restitution of $21,644 plus interest
- 20 hours of continuing education
Sebastian Wyczawski worked for Joseph Stone Capital from 7/2015-9/2021. He recently joined VCS Ventures in 9/2021.
If you have questions about an investment account handled by Sebastian Wyczawski, contact us for a no charge consultation to learn about 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.
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