Securities Arbitration Lawyers BlogFINRA Bars Broker Howard Kavinsky After Falsifying Client Accounts
Howard Kavinsky (CRD# 5881623) is a former registered broker and investment advisor last employed with Supreme Alliance LLC (CRD# 45348) of Charlotte, NC. His previous employers include B. Riley Wealth Management (CRD# 2543) and National Securities Corporation (CRD# 7569), both in Chicago, and David A. Noyes & Company (CRD# 205) of Miami, FL. He has been in the industry since 2011.
During his tenure with B. Riley and its predecessor National Securities Corporation, Kavinsky prepared consolidated account statements for his customers. Many of his customers were seniors, and these consolidated statements provided them with an overview of their financial holdings.
B. Riley discharged Kavinsky on May 16, 2024, for failing to follow the firm’s procedures for customer statements. FINRA began its investigation based on the Uniform Termination Notice for Securities Industry Registration (Form U5) it received from B. Riley on June 13, 2024.
FINRA found that from at least March of 2020 through April of 2024, Kavinsky produced over 190 bogus account statements for at least eight customers. In them, Kavinsky overstated the customer’s account balances. This led his customers to believe they had more money than the accounts held. Kavinsky also falsely claimed bogus investments in a hedge fund for at least six of these customers, when no such investment ever occurred. These false statements violate FINRA Rule 2010, requiring him to provide truthful statements to his clients.
FINRA contacted Kavinsky in July of 2024, requesting information on all his customers who received falsified account statements. In August, Kavinsky only named a married couple who had previously complained to the firm, knowing there were more. In October of 2024, Kavinsky gave on-the-record testimony to FINRA. He repeatedly and falsely stated that he never disclosed anything about hedge funds to his customers. This violated FINRA Rules 8210 and 2010 when he knowingly gave false and misleading information to FINRA during his on-the-record testimony.
Following its investigation and the issuance of an Acceptance, Waiver & Consent Letter (AWC), FINRA sanctioned Kavinsky by permanently barring him from any association with any member, effective 12/20/2024.
Customer Disputes
Kavinsky is also the subject of five customer disputes with similar allegations. The first, filed on 9/12/2025, alleges fraudulent account statements, churned the client’s account, and mismanaged funds, and requests damages of $200,000.
Two additional disputes, both filed on 8/28/2025, include identical allegations. These disputes request damages of $1,400,000 and $2,000,000, respectively.
The fourth dispute, filed on 5/6/2025, includes allegations of “unauthorized trading, excessive trading,” and requests damages of $258,677.
A fifth customer dispute was filed on 6/22/2024, requesting damages of $760,000, and included allegations that Kavinsky:
- Refused to provide account statements when asked, because they believe the provided statements listed incorrect balances
- Funds from their accounts were removed and are missing
- Repeatedly provided “false and misleading information pertaining to account balances.”
This dispute was settled for $150,000.
Did You Invest With Howard Kavinsky?
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 and let us know how we can help.