If you have suffered trading losses with former Brea, California-based stockbroker Eric W. Kuchel, call today for a FREE Consultation regarding your investment loss recovery options.
According to FINRA reports, Eric W. Kuchel is being investigated by the Financial Industry Regulatory Authority (FINRA) in connection with the alleged unsuitable recommendation of certain mutual funds to clients and for participating in private securities transactions without first notifying his former brokerage firm, LPL Financial. Eric Kuchel currently has 3 outstanding client complaints which allege that he made unauthorized investments in their account.
Stockbrokers have a regulatory obligation to only recommend or engage in transactions that are suitable for their customers and to ensure that any recommendation to purchase investment products are suitable for the needs of each customer. Participating in private securities transactions without notifying and obtaining approval from a stockbroker’s brokerage firm is referred to “selling away”. Selling away describes the situation where a financial advisor or broker like Eric Kuchel recommends securities or investments that are not approved for sale by the firm and are not on the firm’s approved product list. The brokerage firm’s approved product list identifies the types of securities and investments that are approved for brokers to sell after the securities have been subjected to the brokerage firm’s due diligence process which includes receiving the necessary risk and compliance department reviews and approvals.
Eric Kuchel is currently not licensed to act as a stockbroker. He was formerly registered with LPL Financial LLC from 2014 to Novermber 2015 and prior to that with Crown Capital Securities, LP in Brea, California.
If you are an investor who has suffered losses investing with Eric W. Kuchel, you may be able to recover your losses through FINRA arbitration or securities litigation. Please call Kons Law Firm at (312) 757-2272 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.
Kons Law Firm represents investors nationwide in securities arbitration and litigation matters. To learn more about the Firm’s securities litigation and FINRA arbitration practice, please visit www.investmentlossattorney.com.