Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on September 14, 2018 indicate that Minnesota-based Feltl & Company broker/adviser Ethan De Naray was recently sanctioned by FINRA in connection to alleged rule violations and suspended from acting as a broker. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. De Naray (CRD# 4571532).
Ethan De Naray has spent 15 years in the securities industry and has been registered with Feltl & Company in Wayzata, Minnesota since July 2017. Previous registrations include Merrill Lynch in Minneapolis, Minnesota (2008-2017) and Citigroup Global Markets in Minneapolis, Minnesota (2002-2008). He is a registered broker and investment adviser with 11 US states and territories and two self-regulatory organizations (SROs): FINRA and the Nasdaq Stock Market.
According to his BrokerCheck report, he received one customer complaint one regulatory sanction.
In August 2018 FINRA sanctioned him in connection to allegations he executed discretionary trades in the accounts of one of his clients without first obtaining written authorization from that client and without his firm accepting the accounts in question as discretionary. FINRA’s findings state additionally that Mr. De Naray “mismarked order tickets as unsolicited” although the trades recorded on those tickets were actually solicited, consequently causing his member firm’s books and records to be inaccurate. He was issued a fine offing $5,000 and a one-month suspension that began on September 4, 2018 and will lift on October 3, 2018.
In 2017 a customer alleged Ethan De Naray, while employed at Merrill Lynch, executed unauthorized transactions. The complaint settled for $92,000.
If you or someone you know has lost money investing with Ethan De Naray, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.