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Leonid Yurovsky fined $55,000 for recommending allegedly unsuitable ETFs

shutterstock_112959457In December 2014, Leonid Yurovsky entered into a settlement with the Arkansas Securities Commissioner.

According to the agreement, The Arkansas Securities Department alleged Leonid Yurovsky engaged in excessive trading and unsuitable securities sales while he was acting as an agent for two customers. The Securities Department further alleged Leonid Yurovsky engaged in unsuitable securities sales for selling non-traditional exchange traded funds (ETFs) to both customers.

Non-traditional ETFs. have been infamously marked as unsuitable for most investors. In fact, they are so risky and speculative, FINRA issued a Regulatory Notice to investors and broker-dealer firms. This Regulatory Notice warned brokers and broker-dealer firms that they must have a reasonable basis for believing a product is suitable for their investors and offered very explicit guidance on the amount of due diligence and investigation which must be performed, prior to recommending any nontraditional ETFs.

Non-traditional ETFs are typically “reset daily” meaning they are “designed to achieve their desired objective on a  daily basis and the effects of compounding present unique risks over longer holding periods.” Leonid Yurovsky, however, held on to the ETF’s for over a year until they were finally liquidated at a loss.

Leonid Yurovsky is currently registered as a broker at National Securities Corp. and has been since 2013.

If you or someone you know has lost money investing with Leonid Yurovsky or National Securities Corp. you may be entitled to full recovery of your losses. The attorneys at Fitapelli Kurta prosecute cases on behalf of investors like you who have lost money as a result of unsuitable investments. These cases are taken on a contingency fee basis only, which means our firm will not receive any compensation whatsoever unless and until you recover money.

Cases are filed with the Financial Industry Regulatory Authority (FINRA) and will submit to arbitration. Fitapelli Kurta has filed hundreds of cases before FINRA and has recovered millions on behalf of investors who have fallen victim to broker misconduct. Do not delay. Call 877 – 238 – 4175 to speak directly to an attorney and further discuss the merits of your case.

Our consultations are always free.

Call 877 – 238 – 4175 now.

 

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