Securities Lawyers Blog
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor Howard Utz (Utz), formerly associated with Hazard & Siegel, Inc. (Hazard & Siegel) in Mars, Pennsylvania was terminated by his firm concerning allegations that Utz’s failed to report outside business activities, engaged in private securities transactions, and accepted checks from clients made personally payable to Utz and subsequent conversion to personal use.
In addition, in May 2018 the Federal Bureau of Investigation opened an investigation into Utz but have not disclosed any details of the investigation. Similarly, in January 2018 the Securities and Exchange Commission (SEC) opened an investigation into Utz’s activities but again there are no disclosures concerning the nature of the investigation.
At this time, the selling away claims against Utz are unclear as to the exact nature and extent of the activity. Utz has outside business disclosures including Noble and Utz Enterprises – a rental property business. In addition, Utz discloses Utz Financial Services – his investment d/b/a among other disclosures.