FINRA Bars Marat Likhtenstein after Allegations of Customer Loan Transactions
According to the Financial Industry Regulatory Authority (FINRA), the self-regulator has barred Marat Likhtenstein from working in the securities industry. Likhtenstein reportedly refused to provide documents and information and to appear for on-the-record testimony requested by FINRA in connection to its investigation of comments made on a Form U5 filing by his member firm.
The findings stated that Likhtenstein was discharged because he failed to disclose personal loan transactions with a client.
Loan Transactions
FINRA Rule 3240 states that stockbrokers may only borrow from or lend to a customer if their firm has a policy in place allowing this type of financial arrangement. However, most brokerage firms generally prohibit the practice.
According to FINRA, between 2018 and 2021, there were an average of 15 enforcement cases per year tied to customer loan violations. The broker was reportedly the borrower in all but one case, and the amounts ranged from $1,800 to $1.35 million.
FINRA BrokerCheck – Marat Likhtenstein
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA, as well as to review their employment history, licensing status, and any regulatory actions or complaints filed against them.
Marat Likhtenstein was reportedly registered with the following brokerage firm during his career in the securities industry, among others:
11/02/2018 – 06/27/2024, OSAIC WEALTH, INC. (CRD#:23131), BROOKLYN, NY,
B, 01/18/2001 – 11/02/2018, SIGNATOR INVESTORS, INC. (CRD#:468), BROOKLYN, NY
B, 05/03/1999 – 01/12/2001, PARK AVENUE SECURITIES LLC (CRD#:46173), NEW YORK, NY
Free Consultation with a Securities Attorney
If you have suffered investment losses with Marat Likhtenstein and Osaic Wealth, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
About the White Law Group
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.
With over 30 years of securities law experience, The White Law Group has the expertise to help investors to recover their securities fraud losses.
Tags: broker investigation, Marat Likhtenstein, Osaic Wealth Last modified: August 7, 2024
