FINRA suspends Omer Ozeren (CRD #6171522, Chatsworth, California)
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As reported in InvestmentNews, three Raymond James entities have agreed to pay over $15 million to resolve an investigation by the SEC. The settlement and SEC order focused on Raymond James’s actions in improperly charging certain clients advisory fees when the...read more
March 9, 2018 – A Letter of Acceptance, Waiver and Consent (AWC) was issued in which Ozeren was assessed a deferred fine of $10,000, suspended from association with any FINRA member in all capacities for three months, and ordered to pay $9,388, plus interest, in deferred restitution to customers. Without admitting or denying the findings, Ozeren consented to the sanctions and to the entry of findings that he effected discretionary transactions, some of which were options transactions, in customer accounts without prior written authorization from the customers to use discretion in their accounts or prior written acceptance of their accounts as discretionary by his member firm. The findings stated that Ozeren recommended transactions in inverse and inverse leveraged Exchange Traded Funds (non-traditional ETFs) in the same customer accounts without understanding the risks and features of the nontraditional ETFs, and without reasonable grounds for believing these recommendations were suitable. Ozeren recommended that non-traditional ETF positions be held in customer accounts for periods ranging from approximately five days to two months. As a result of these transactions, two of Ozeren’s customers suffered losses of $9,388. The suspension is in effect from March 19, 2018, through June 18, 2018. (FINRA Case #2016049183301). If you or someone you know has lost money investing with Omer Ozeren, call the experienced attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-445-9261 now to speak to an attorney for free.