The Law Firm of David Chase is investing former Ohio based Merrill Lynch (CRD#7691) broker David R. Kondracke (CRD#849161) following a FINRA bar after he failed to respond to FINRA’s request for information, which FINRA deems to be a failure to cooperate.
According to FINRA’s BrokerCheck, FINRA permanently barred Kondracke in June of 2017 while it was looking at the possible improper exercise of discretionary authority in customer accounts, the making of unauthorized trades and misrepresentations.
The FINRA suspension follows multiple customer complaints against Kondracke during his time at Merrill Lynch. Three separate customer complaints were reported to FINRA from 2013-2016.
Kondracke was based out of Merrill Lynch’s Columbus, Ohio Office from 2006 to 2017. Previously he was employed by Advest, Inc (CRD#10) from 1984-2006.
Unauthorized trading occurs when a broker executes a transaction without the permission of the customer in a non-discretionary account. According to FINRA, it is one of the common investor abuses along with misrepresentation, cold-calling, excessive trading (churning) and unsuitable investment recommendations.
The unauthorized exercise of discretion is a serious form of broker misconduct. A broker’s employing firm is responsible for supervising the broker to prevent such misconduct, and its failure to do can constitute an actionable failure to supervise.
FINRA arbitration is a fast, efficient way to recover your lost investment funds due to unauthorized trading, fraud and/or mismanagement. The Law Firm of David Chase works on a contingency fee basis, meaning you pay it nothing unless it recovers money for you.
If you have invested with David R Kondracke and Merrill Lynch and lost money doing so, you may be able to recover some or all of your losses. Attorney David Chase is experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.
The Law Firm of David Chase represents the rights of investment fraud victims around the nation. If you have questions about your legal rights, please contact David Chase for a free consultation at firstname.lastname@example.org or toll-free at (800) 760-0912.