Arkady Ginsburg, Broker with Aegis Capital, Suspended by FINRA Following Allegations of Excessive and Unsuitable Trading

INVESTORS: Aegis Capital broker Arkady Ginsburg was suspended by FINRA following allegations of excessive and unsuitable trading.

Arkady Ginsburg (CRD: 5256747) is registered as a broker with Aegis Capital, where he’s been employed since 2014. Previously, Ginsburg was registered as a broker with Rockwell Securities from 2007 until 2014.

Ginsburg has two disclosures on his BrokerCheck report.

March 2022 Regulatory Judgment

Status: Final

Initiated By: FINRA

Allegations: Without admitting or denying the findings, Ginsburg consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading in customer 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. Because Ginsburg recommended the trading in the customers’ accounts and the customers routinely followed his recommendations, Ginsburg controlled the volume and frequency of trading in the accounts and therefore exercised de facto control over the customers’ accounts. 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.

Resolution: Acceptance, Waiver & Consent (AWC)

Sanctions: Restitution

Amount: $114,591.00

Sanctions: Suspension

Registration Capacities Affected: All Capacities

Duration: Six months

Start Date: 4/18/2022

End Date: 10/17/2022

Sanctions: In light of Ginsburg’s financial status, no monetary fine or prejudgment interest has been imposed.

February 2018 Customer Dispute

Status: Settled

Allegations: Time frame: unspecified. The claimant alleges unauthorized trading and unsuitable investment recommendations.

Damage Amount Requested: $32,398.00

Settlement Amount: $12,635.22

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