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How to Bring a Claim Against Madison Avenue Securities, LLC Broker Steven Kwan

Posted on Monday, July 19th, 2021 at 4:07 pm    

Madison Avenue Securities, LLC

Were you the victim of Madison Avenue Securities, LLC broker Steven Kwan (CRD# 3183681)? Kwan has been registered with Madison Avenue Securities, LLC in Austin, Texas since 2006. 

Kwan has been the subject of two customer complaints between 2020 and 2021, according to his CRD report:

March 2021. “Claimants allege unsuitable recommendations of multiple alternative investments, failure to supervise and breach of fiduciary duty. First investments started in 2011.” The case is currently pending. The complaint was regarding direct investments.

February 2020. “Claimants allege failure to conduct Due Diligence on several points, unsuitable recommendation, over concentration, misrepresentations and omissions in violation of Texas and FINRA regulations in the sale of GPB.” The customer sought $100,000 in damages and the case was settled for $65,003.71. The complaint was regarding direct investments.

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, Madison Avenue Securities, LLC may be liable for investment or other losses suffered by Kwan’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.