Mirso Muharemovic Investigation
June 2023-Coram, NY
According to publicly available records Mirso Muharemovic, a former Arive Capital Markets broker discloses a final regulatory matter and three prior customer disputes.
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 12/2022, without admitting or denying the findings, Muhuaremovic consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading, including using margin, in customer accounts. The findings stated that Muhuaremovic recommended that his customers place trades in their accounts- nearly all of which were executed using the margin – and the customers routinely accepted his recommendations. As a result of Muhuaremovic’s unsuitable recommendations, his customers lost approximately $237,823 and paid approximately $211,643 in commissions, fees and margin interest.
Sanctions imposed by FINRA: A 9 month suspension and a$211,643 restitution, and fine of $5,000 .
Muhuaremovic has three prior customer disputes:
- Seaboard Securities, Inc. (previous employer) customer alleged misrepresentations and omissions of material facts, high pressure sales tactics, excessive trading, failure to diversify, fraud, negligence, breach of contract and breach of fiduciary duty. The case settled for $35,000 with $9,453.13 paid by Muhuaremovic individually.
- Arive Capital Markets customer alleged churning, excessive trading and unsuitability. The case settled for $115,000 with $18,445 paid by Muhuaremovic individually.
- Arive Capital Markets customer alleged unsuitability. The case settled for $72,500.
Muhuaremovic is not currently registered as a broker. He was with Arive Capital Markets from 6/2016 until 11/2022. Before that he was with Cape Securities, Inc. from 6/2014-6/2016 .
If you have suffered losses in an account handled by Mirsad Muhuaremovic contact us for a no charge consultation to learn how you may be able 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.
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