Were You the Victim of Former Kalos Capital, Inc. Broker Steve Netzel?
Posted on Friday, January 3rd, 2020 at 12:38 pm
Former Kalos Capital, Inc. broker Steve Netzel (CRD# 2863170) is accused of unsuitable investment recommendations. Netzel has been registered with Madison Avenue Securities, LLC in Sun Lakes, Arizona from June to August 2019. Previously, Netzel was registered with Kalos Capital, Inc. in Chandler, Arizona from 2013 to 2019.
In March 2012, the Arizona Corporation Commission Securities Division sanctioned Netzel to a $10,000 civil and administrative penalty and fine after it was found that Netzel offered or sold securities that were neither registered nor exempt from registration. Netzel violated a.R.S. 44-1842 by offering or selling securities while neither registered as a dealer or salesman nor exempt from registration.
Netzel has been the subject of one customer complaint, according to his CRD report:
October 2019. “Unsuitable recommendations.” The customer is seeking $300,000 in damages and the case is currently pending. The complaint was regarding oil and gas securities, real estate securities, and private equity and alternative investments and took place while Netzel was registered with Kalos Capital, 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, Kalos Capital, Inc. may be liable for investment or other losses suffered by Netzel’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.