Securities Lawyers Blog
The law offices of Gana Weinstein LLP represents investors in investment disputes with their financial advisors or brokerage firms, such as Kayan Securities, Inc. Many investors do not recognize financial advisor misconduct when it happens, but there are steps that can be taken to recover investment losses. There are many different types of broker misconduct, including breach of fiduciary duty, failure to supervise, misrepresentation, and churning. The attorneys at Gana Weinstein LLP can analyze your investments to determine if there was actionable misconduct by the broker or brokerage firm.
Kayan Securities is a retail broker-dealer that executes trades and makes recommendations in stocks, bonds, ETFs, mutual funds, options, and private placements across cash, margin, and retirement accounts. Formed in California in 2009, the firm is headquartered on Wilshire Boulevard in Los Angeles.
Kayan Securities, Inc. – By the Numbers:
- CRD #: 156175
- Regulatory Events: 1
- Broker Employees: 13
Kayan Securities, Inc. – In the News:
FINRA v. Kayan Securities, Inc. (Case #2019064935602) – From January 2018 through at least April 2021, Kayan and Kim failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with the suitability requirements of FINRA Rule 2111 and the Care Obligation of Rule 15l-1 of the Securities Exchange Act of 1934 (Regulation BI or Reg BI) as they pertain to excessive trading, in violation of FINRA Rules 3110 and 2010. As of June 30, 2020, Kayan also violated Reg BI’s Compliance Obligation by not establishing, maintaining, and enforcing WSPs reasonably designed to achieve compliance with Reg BI. From January 2018 through April 2021, Kayan and Kim also failed to reasonably supervise a former firm registered representative (Representative 1), by failing to respond to red flags that Representative 1 had engaged in unauthorized and excessive trading in three customers’ accounts, in violation of FINRA Rules 3110 and 2010. From September 2019 through the present, Kayan also failed to disclose to FINRA two written customer complaints regarding Representative 1 and the firm’s conclusion that Representative 1 had violated FINRA rules, in violation of FINRA Rules 4530 and 2010. From September 2019 through the present, the firm also failed to update Representative 1’s Forms U4 and U5 regarding three written customer complaints, in violation of Article V, Sections 2(c) and 3(b) of FINRA’s By-Laws and FINRA Rules 1122 and 2010.
Gana Weinstein LLP has successfully handled hundreds of customer investment disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.