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The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Arkady Ginsburg. According to his publicly available FINRA BrokerCheck report, Arkady Ginsburg has been the subject of multiple customer disputes over the course of his career.

Arkady Ginsburg is a New York-based securities broker. He has worked in the securities industry for fifteen years. During his career, he has been registered with three different securities firms.

His Registrations

  • S.W. Bach & Company (2006-2007)
  • Rockwell Securities (2007-2014)
  • Aegis Capital Corp (2014-present)

The Allegations 

  • In February 2018, a customer alleged that Arkady Ginsburg had executed unsuitable and unauthorized trading in their account. This case was settled for $12,635 in damages.
  • In March 2022, FINRA officially sanctioned Ginsburg following their findings that he had engaged in excessive and unsuitable trading in customers’ accounts. The findings stated that Ginsburg’s trading in the customers’ accounts generated high cost-to-equity ratios and turnover rates, as well as significant losses and trading costs. As a result of Ginsburg’s trading, the customers suffered market losses totaling $686,640.39, while Ginsburg earned a total of $113,591 in commissions. As a result of FINRA’s findings, Ginsburg was suspended in all capacities for a period of six months and fined a total of $113,591.
  • In June 2022, Ginsburg was sanctioned by the State of Maryland where he entered into an AWC where he consented to the sanctions that he engaged in excessive and unsuitable trading. As a result of these findings, Ginsburg withdrew his registration from the State of Maryland.

What Does This Mean?

Securities brokers are prohibited from executing trades on behalf of investors without first obtaining the investor’s authorization.  There is however a practice known as discretionary trading that allows a securities broker to execute trades in a client’s account without obtaining authorization for each one, but the broker must first obtain written authorization from the investor first.  This written authorization is necessary as it keeps the investor involved in the process and helps protect them against potential unsuitable investments made without their knowledge.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Arkady Ginsburg, please contact Oakes & Fosher for a free and private consultation. We handle cases on a contingency basis, which means there are no fees charged unless we collect for you.