Broker Kenneth Butschek Reportedly Barred from Securities Industry

Kenneth Butschek, Proequities Inc., Halletsville, TX

According to public records, the Financial Industry Regulatory Authority (FINRA) on March 26, 2020 has barred Kenneth Butschek from associating with any FINRA member at any time after he reportedly failed to request termination of his suspension within three months of the date of the Notice of Suspension.

Butschek’s FINRA broker report indicates that he has one customer complaint filed against him in 2019 for allegations that he “deposited funds given to him for investment into the representative’s personal bank account.” Butschek was reportedly affiliated with Proequities Inc. in Halletsville, TX from 2004 until 2019 when he was reportedly discharged for an alleged personal investment opportunity involving representative’s outside business activity (OBA) “without firm knowledge or approval.” Butschek allegedly deposited a $60,000 client check into a personal checking account.

According to FINRA, Butschek also reported 3 judgments/liens between May 2015 and January 2017.

Filing a Complaint against your Brokerage Firm

When brokers abuse client accounts or conduct transactions that violate securities laws, such as unauthorized trades or making unsuitable investments, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

If you are concerned about investments with Kenneth Butschek, the securities attorneys of The White Law Group may be able to help you. For a free consultation with a securities attorney, please call 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.