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Scott Kozak Named In FINRA Investigation Into Private Securities Activities, Outside Business Activities

Scott KozakPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on August 16, 2018 indicate that former Colorado-based Cetera Advisors broker/adviser Scott Kozak, who has received customer complaints, was recently discharged from his former employer in connection to alleged rule violations and named in a FINRA investigation. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Kozak (CRD# 1272583).

Scott Kozak has spent 19 years in the securities industry and was most recently registered with Cetera Advisors in Highlands Ranch, Colorado (2001-2018). Previous registrations include Financial West Group in Reno, Nevada (2000-2001) and Programmed Equities Corporation (1989). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on December 8, 2004; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on January 17, 2000; Series 7 (General Securities Representative Examination), which he obtained on September 26, 2009; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on January 26, 2000. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received two customer complaints and two customer complaints that were closed or denied, was recently named in a FINRA investigation, and was recently discharged from his former employer in connection to alleged rule violations.

In July 2018 he was discharged from his position at Cetera Advisors in connection to allegations he “violated firm policy prohibiting personal securities transactions.”

In May 2018 he was named in a FINRA investigation into allegations he engaged in private securities transactions and outside business activities, without providing prior notice to or receiving approval from his member firm, in violation of FINRA and NASD rules. The investigation remains pending.

In 2008 a customer alleged Scott Kozak, while employed at Multi-Financial Securities Corporation, breached his fiduciary duty, acted negligently, committed fraud, concealed material facts, and misrepresented material facts. The complaint resulted in an award to the customer of $51,750.

In 2008 a customer alleged Scott Kozak, while employed at Multi-Financial Securities Corporation, did not follow instructions. The complaint settled in 2010 for $27,500.

In 2005 a party of customers alleged Scott Kozak, while employed at Multi-Financial Securities Corporation, misled them in connection to a variable annuity purchase. The customers sought more than $12,800 in damages in the complaint, which was denied.

In 2004 a party of customers alleged he, while employed at Multi-Financial Securities Corporation, recommended unsuitable investments. The customers sought more than $12,600 in damages in the complaint, which was closed with no action taken.

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