Western International Securities, Inc. broker Doron Kochavi (CRD# 1011155) faces a $4 million customer complaint for breach of fiduciary duty related to investments in stocks. Kochavi has been registered with Western International Securities, Inc. in Pasadena, California since 2015.
Previously, Kochavi was registered with UBS Financial Services Inc. in Century City, California from 2012 to 2015 and previously with J.P. Morgan Securities LLC in Los Angeles, California from 1993 to 2012, when he was terminated regarding, “the firm has concluded that the rr exercised discretion in certain client accounts without written authorization.”
Kochavi has been the subject of six customer complaints between 1986 and 2019, one of which was closed without action, according to his CRD report. The most recent complaint is regarding:
October 2019. “Breach of Fiduciary Duty.” The customer is seeking $4 million in damages and the case is currently pending. The case is regarding common and preferred stocks and took place while Kochavi was registered with Western International Securities, Inc.
Previous customer complaints were regarding unsuitable investment recommendations and excessive trading in customer investment accounts.
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, Western International Securities, Inc. may be liable for investment or other losses suffered by Kochavi’s customers.
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