Ezri Shechter, Employed by Spencer-Winston Securities, Suspended by FINRA for Three Months

Shechter allegedly caused customers to sign incomplete or blank forms. 

The Sonn Law Group is investigating allegations that Ezri Schechter caused customers to sign incomplete or blank forms. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Ezri Schechter (CRD#: 2772177)  consented to findings by FINRA stating that he caused customers to sign blank or incomplete discretionary trading forms and used the forms with photocopied customer signatures as originals, causing his member firm to make and keep inaccurate books and records regarding the granting of discretionary authority.

The findings stated that after FINRA questioned Shechter about the authenticity of the discretionary authorization forms, the customers signed replacement discretionary authorization forms. 

The findings also stated that Shechter engaged in discretionary trading in customers’ accounts without prior written authorization from the customers and acceptance of the accounts as discretionary by his firm in writing. The customers had orally or implicitly given Shechter authority to exercise discretion in their accounts.

Shechter was suspended from any association with a FINRA member firm for a period of three months and fined $12,500.

Shechter has been the subject of four customer disputes over the course of his career.

• October 2012 – Customer alleged unauthorized trading, unsuitable recommendations, the material omission of fact, professional negligence, breach of contract, breach of fiduciary duty, and failure to follow instructions. The matter was settled for $20,000.
• December 2010 – Customer alleged excessive trading in his account. The matter was settled for $100,000.
• April 2004 – Customer alleged unauthorized trading, unsuitable recommendations, churning, and breach of fiduciary duty. The matter was settled for $35,000.
• May 2000 – Customer alleged churning, unsuitable recommendations, and breach of fiduciary duty.  The matter was settled for $37,999.

Contact Us Today

The Sonn Law Group is currently investigating allegations that brokers caused customers to sign incomplete or blank documents. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.