Broker Suspended by FINRA for Marking Solicited Trades as Unsolicited

In a recent decision of the FINRA
Regulatory Authority (FINRA), Andrey V. Tkatchenko
was fined $10,000.00 and given a 15-day business suspension for marking trade tickets and trade
confirmation relating to stock purchase transactions as being unsolicited, when in fact they were
solicited.

 

FINRA Rule 3110(a) requires that
FINRA member firms “make and preserve books, accounts, records, memoranda, and correspondence in
conformity with all applicable laws, rules . . . as prescribed by the Securities Exchange Act of 1934
and Rule 17a-3.  Rule 17a-3, in turn, requires that member firms keep [a] memorandum
of each brokerage order, and of any other instructions, given or received for the purchase or sale of
securities.”

 

The mismarking of order tickets as
unsolicited, when in fact they are solicited, is a known, old trick designed to hide improper and
unauthorized trading activity in customer accounts.

 

If you feel you have been subjected
to unauthorized trading or other investment fraud, we offer a free initial consultation..

 

The Law Offices of Timothy J. O’Connor is one of the
only law firms practicing securities law in the Tri-City Capital District of Albany, Schenectady and
Troy.  We also represent victimized investors throughout the rest of New York
State, including Buffalo, Binghamton, Syracuse, Watertown, Utica, Kingston, New York City/Manhattan,
Long Island, and everywhere in between, as well as in the surrounding states of Massachusetts,
Vermont, New Hampshire, Connecticut, and New Jersey.

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