FINRA Bars CT Advisor Emil Skyba – Westport Capital Markets
According to the Financial Industry Regulatory Authority (FINRA) on May 11, financial advisor Emil Skyba was reportedly barred from the securities industry.
According to a Letter of Acceptance, Waiver and Consent, in connection with an investigation into potential alteration of new account forms, FINRA staff sent requests for information to Skyba, on December 13, 2017, February 2, 2018 and March 7, 2018. As stated in a telephone call with FINRA Staff on April 16, 2018, and by this agreement, Skyba allegedly acknowledges that he received FINRA’s requests but will not provide the requested information at any time.
According to his FINRA BrokerCheck report, Skyba was registered with Westport Capital Markets in Westport, CT from February 2015 through September 2017. Prior to that, he was affiliated with UBS Financial Services in Edison, NJ from May 1993 until December 2014. He has four customer disputes listed on his broker report. Allegations include unsuitability, excessive margin trading, misrepresentation, among others.
For FINRA’s full findings see FINRA case # 2017056500901.
Failure to Supervise
The White Law Group is investigating potential claims regarding the liability that his employers may have for failure to properly supervise Emil Skyba.
Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
Brokers have a fiduciary duty to make investment recommendations that are consistent with the clients net worth, investment experience and objectives. Risk tolerance, age, and liquidity needs also need to be considered.
When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.
Are you concerned about your investments with Emil Skyba? If so, the securities attorneys of The White Law Group may be able to help. For a free consultation with a securities attorney, please call 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, visit www.WhiteSecurtiesLaw.com.