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Erez Law Investigates Sagepoint Financial, Inc. Broker Cynthia Komarek

Posted on Monday, July 12th, 2021 at 6:09 pm    

Sagepoint Financial

Did you lose money investing with Sagepoint Financial, Inc. broker Cynthia Komarek (CRD# 1188714)? Komarek has been registered with Sagepoint Financial, Inc. in Barrington, Illinois from 2017 to 2020, when he was terminated regarding, “Registrant admitted to making referrals to an outside asset manager without approval of the BD.” Previously, Komarek was registered with Wells Fargo Clearing Services, LLC in Woodstock, Illinois from 2008 to 2017.

In June 2021, FINRA barred Komarek after she “consented to the sanction and to the entry of findings that she refused to provide documents and information requested by FINRA during the course of its investigation of a Form U5 filed by her member firm. The findings stated that the firm filed the Form U5 stating that it discharged Komarek after she admitted making referrals to an outside asset manager without its approval.”

Komarek has been the subject of three customer complaints between 1999 and 2020, one of which was denied, according to her CRD report:

August 2020. “Inappropriate involvement in sale of unapproved investment product is alleged.” The customer is seeking $1,430,000 in damages and the case is currently pending. The complaint was regarding a private investment fund and took place while Komarek was registered with Sagepoint Financial, Inc.

August 2020. “Recommendation of inappropriate fund (not BD approved).” The customer is seeking $900,000 in damages and the case is currently pending. The complaint was regarding an outside investment fund and took place while Komarek was registered with Sagepoint Financial, Inc.

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, Sagepoint Financial, Inc. may be liable for investment or other losses suffered by Komarek’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.