According to BrokerCheck records former financial advisor James Kujawski (Kujawski), currently employed by Ameriprise Financial Services, Inc. (Ameriprise Financial) has been subject to at least seven customer complaints, one employment termination for cause, and one regulatory action. According to records kept by The Financial Industry Regulatory Authority (FINRA), many of the complaints against Kujawski concern allegations of unsuitable investments and material misrepresentations concerning investments being recommended.
In February 2018 Kujawski was terminated by UBS Financial Services, Inc. (UBS) after the firm claimed that Kujawski’s continued failure to disclose some of his outside business activities/outside business investments was in violation of firm policies.
Thereafter, in August 2018 FINRA brought a regulatory action against Kujawski which Kujawski consented to the findings that he engaged in a private securities transaction by facilitating the repurchase of a call option between two individuals, neither of whom were customers at his member firm. FINRA found that Kujawski’s participation included the repurchase of the option by introducing a commercial lender to participate in the transaction, attending meetings with the parties, reviewing draft sale contracts and providing comments, and accepting $73,444.90 in compensation for his participation. Kujawski was suspended for four months and agreed to pay financial penalties.
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Securities Lawyers Blog
According to BrokerCheck records financial advisor Marc Steinberg (Steinberg), currently employed by Westpark Capital, Inc. (Westpark Capital) has been subject to five customer complaints in his career. According to records kept by The Financial Industry Regulatory Authority (FINRA), many of the complaints against Steinberg concern allegations of unsuitable investments.