Halil Kozi (Hal Kozi) – Financial Advisor/Broker Halil Kozi Named in FINRA Complaint

Halil Kozi (Hal Kozi) – Financial Advisor/Broker Halil Kozi Named in FINRA Complaint | Goodman & Nekvasil P.A., May Recover Investor Losses

Hal Kozi CRD #1121714

Hal Kozi was a formerly licensed financial advisor/broker with Buckman, Buckman & Reid, Inc. and PHX Financial, Inc. According to FINRA, Hal Kozi was named a respondent in a FINRA complaint.

According to FINRA: Hal Kozi was named a respondent in a FINRA complaint alleging that he willfully violated Section 10(b) of the Securities Exchange Act of 1934 (the Exchange Act) and Rule 10b-5 thereunder and FINRA Rule 2020 by churning a customer’s account and he excessively traded in that customer’s account. The complaint alleges that the customer deposited a little over $200,000 in his account at Hal Kozi’s member firm. Within the span of about a year and a half, Kozi recommended equity and options transactions, with a principal value of over $3 million. Hal Kozi’s recommended transactions for the customer’s account generated gross commissions totaling over $135,000, of which Kozi himself received over $87,000, which caused the customer’s account to incur losses of nearly $72,000. Commissions from the customer’s account made up 95% of Hal Kozi’s commission income. The complaint also alleges that Hal Kozi’s recommended transactions were qualitatively unsuitable. Hal Kozi’s recommended options transactions for the customer’s account was unsuitable given the high level of speculation involved as well as the transaction costs incurred when considered in the context of the customer’s investment objective, risk tolerance, and financial situation and needs. Hal Kozi lacked a reasonable basis to believe that the customer was aware of and understood the risks associated with the options trading he recommended, as the customer had no experience trading options and many of the options trades Hal Kozi recommended were speculative and intended for sophisticated options investors. Hal Kozi also lacked a reasonable basis to recommend that the customer purchase stock in quantities that caused the stock at one point to make up 85 percent of the customer’s account value. For six of the 18 months the customer held the stock, it was over 60 percent of the customer’s account value and it was over 30 percent of the customer’s account value for 11 of the 18 months. That amount of account value in a single speculative issuer’s securities was not consistent with the customer’s balanced growth investment objective and moderate risk profile.

Goodman & Nekvasil P.A. May Recover Investor Losses

If you lost money on investments with Hal Kozi and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Hal Kozi’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Hal Kozi and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us. 

Hal Kozi, Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange, Hal Kozi

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