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Broker Eric Kammerer Suspended for Unauthorized Trading

Fitapelli Kurta is investigating customer complaints against stock broker Eric Kammerer.  Mr. Kammerer is currently registered with First Financial Equity Corporation in Greenwood Village, Colorado.  He was previously registered with Wells Fargo Advisors in Aurora.

On July 15, 2014, Eric Kammerer and the Financial Industry Regulatory Authority (FINRA) entered into a letter of acceptance, waiver and consent, or AWC, which resolved a regulatory proceeding against Mr. Kammerer.   According to the AWC, on June 1, 2012 Mr. Kammerer placed trades in eight customer’s account without obtain their authorization.  This activity constituted a violation of FINRA Rule 2010 and NASD Code of Conduct 2510.

As a result of this activity, Eric Kammerer was fined $5,000 and was suspended by FINRA for 10 business days.  In August 2012, Wells Fargo Advisors discharged Eric Kammerer.  According to Wells Fargo Advisors, Mr. Kammerer was discharged because he violated firm policy relating to timely contacting clients prior to the entry of trade.

What is unauthorized trading?

Unauthorized trading involves the sale or purchase of securities in a customer’s account without their consent and permission. Not all unauthorized trading is as simple or underhanded as one may think.  For example, a broker may believe a transaction is in an investor’s best interest, but cannot or does not contact the investor, and makes the trade anyway. Following such activity it is common for a broker to attempt to convince an investor of the benefits to the transactions in the hopes that the investor “ratifies” unauthorized trades after they were made.

Who are we?

Fitapelli Kurta is a New York City based law firm specializing in securities arbitration.  We exclusively represent investors who have lost money in the stock market through broker misconduct.  We work on contingency and have recovered millions on behalf of investors against brokers like Eric Kammerer.  If you or someone you know lost money investing with Eric Kammerer, contact us today for a free confidential consultation.  Do not delay.

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