Murat Kartal, a broker with Spartan Capital Securities, has recently been suspended by the Financial Industry Regulatory Authority (FINRA) for engaging in excessive trading. This FINRA decision comes from Kartal allegedly trading a senior customer’s account in violation of FINRA Rules 2111 and 2010. If you are one of the investors who suffered losses with Murat Kartal, it is important to know your options for financial recovery.
InvestmentFraud Lawyers.com, a leading national investment loss law firm, is here to help. With their expertise and experience in handling investment loss cases, they can assist you in understanding your rights and pursuing financial recovery. They have successfully recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters, making them a trusted choice for investors seeking justice.
The suspension of Murat Kartal by FINRA serves as a warning to other brokers who may engage in excessive trading. According to the Letter of Acceptance, Waiver, and Consent (AWC) entered into by Kartal and FINRA’s Department of Enforcement, it was found that Kartal had engaged in excessive trading in a senior customer’s account from August 2017 to August 2018. This resulted in a high turnover rate, a high annualized cost-to-equity ratio, and significant losses for the customer. Kartal’s actions violated both FINRA Rule 2111 (Suitability) and Rule 2010, which require brokers to act in the best interests of their clients.
FINRA’s investigation revealed that Kartal executed 150 transactions in the customer’s account, leading to an annualized turnover rate of 49.36 and an annualized cost-to-equity ratio of 197 percent. These excessive trades generated total trading costs of $206,667, including $189,446 in commissions, and caused $51,959 in realized losses. This blatant disregard for the customer’s investment profile and suitability requirements clearly violates industry regulations.
At Haselkorn & Thibaut, a leading investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, they understand how such actions can impact investors. With over 50 years of experience, they have represented countless investors in recovering their losses and holding negligent brokers accountable. Their impressive success rate of 98% speaks to their commitment to clients and their expertise in navigating complex securities matters.
If you are a Murat Kartal’s excessive trading victim and have suffered financial losses, Haselkorn & Thibaut is here to offer a free consultation. Contact them today at 1-800-856-3352 to discuss your legal options. They work on a “No Recovery, No Fee” basis, ensuring that you will not be charged any attorney’s fees unless they are able to secure a financial recovery for you.
It is crucial to take action if you have been affected by Murat Kartal’s actions. By reaching out to Haselkorn & Thibaut, you can have a team of experienced investment fraud lawyers on your side, fighting for your rights and seeking the compensation you deserve. Don’t let excessive trading go unchecked – contact Haselkorn & Thibaut today for a free consultation.
