Aegis Capital Corp. Broker Arkady Ginsburg Investment Loss Options

Aegis Capital Corp

Erez Law is currently investigating Aegis Capital Corp. broker Arkady Ginsburg (CRD# 5256747) regarding unsuitable trading in customer accounts. He has been registered with Aegis Capital Corp. in New York, New York since 2014. 

In March 2022, FINRA sanctioned him to pay restitution in the amount of $113,591 and suspended him for six months. According to the Acceptance, Waiver, & Consent (AWC), “Ginsburg consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading in customer accounts. The findings stated that Ginsburg’s trading in the customers’ accounts generated high cost-to-equity ratios and turnover rates, as well as significant losses and trading costs. Because Ginsburg recommended the trading in the customers’ accounts and the customers routinely followed his recommendations, Ginsburg controlled the volume and frequency of trading in the accounts and therefore exercised de facto control over the customers’ accounts.” FINRA found that the customers suffered losses totaling $686,640.39, and Ginsburg earned a total of $113,591 in commissions.

In June 2022, he entered into an Acceptance, Waiver, & Consent (AWC) with the state of Maryland alleging that he “engaged in excessive and unsuitable trading. He was suspended by FINRA in all capacities for 6 months.”

Arkady Ginsburg Customer Complaints

He has been the subject of one customer complaint, according to his CRD report:

February 2018. “Time Frame: Unspecified. Claimant Alleges Unauthorized Trading And Unsuitable Investment Recommendations.” The customer sought $32,398 in damages and the case was settled for $12,635.22.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Aegis Capital Corp. may be liable for investment or other losses suffered by Arkady Ginsburg’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.