While many attorneys can identify potential securities law violations and assert claims such as negligence or breach of fiduciary duty,...
Read MoreEric Kunis: FINRA Suspends Woodbury, New York Broker
A disciplinary action taken by the Financial Industry Regulatory Authority against Woodbury, New York broker Eric Kunis (CRD# 2361728) suspended him over allegations he engaged in unsuitable trading in unit investment trusts (UITs) in customer accounts. A representative of Trident Partners and former representative of Maxim Group, Kunis was suspended for two months and fined $2,500.
According to a Letter of Acceptance, Waiver and Consent (No. 2016047630701) dated October 2018, Eric Kunis was registered with Maxim Group when, between February 2012 and January 2017, he “repeatedly recommended” customers buy unit investment trusts and sell the products “well before their maturity dates.” According to FINRA’s findings, most of the recommended products came with maturity dates of about 24 months and sales charges between 1.95% and 2.95%; in spite of this, he allegedly recommended his clients sell the positions “less than a year after purchase,” with his customers holding the UIT positions for an average of 161 days. FINRA’s findings, which note that short-term UIT trading “is generally improper,” states that his actions violated NASD Rule 2310 and FINRA Rules 2111 and 2010. As a result of the foregoing alleged conduct, he was suspended from associating with any FINRA member firm in any and all capacities for a period of two months. He was also ordered to pay a fine of $2,500.
Eric Kunis has been registered with Trident Partners in Woodbury, New York since 2018. His employment history includes Maxim Group in Woodbury, New York; Investec Ernst & Company in New York, New York; Royce Investment Group in Woodbury, New York; Patterson Travis in Englewood, Colorado; McLaughlin Piven Vogel Securities in New York, New York; Corporate Securities Group in St. Louis, Missouri; Westfield Financial Corporation in New York, New York; and Hibbard Brown & Company in New York, New York. His FINRA BrokerCheck report lists ten state licenses and four securities industry qualification examinations.
