{"id":2902,"date":"2015-10-09T00:00:00","date_gmt":"2015-10-09T04:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/kenneth-hornyak-stifel-nicolaus\/"},"modified":"2017-12-22T14:00:29","modified_gmt":"2017-12-22T19:00:29","slug":"kenneth-hornyak-stifel-nicolaus","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/kenneth-hornyak-stifel-nicolaus\/","title":{"rendered":"Stifel Nicolaus & Co.\u2019s Michigan Broker Kenneth Hornyak Permanently Barred By FINRA"},"content":{"rendered":"

Michigan broker Kenneth Hornyak (\u201cHornyak\u201d)(CRD# 2990144<\/a>), was permanently barred by the Financial Industry Regulatory Authority<\/a> (\u201cFINRA\u201d) and is no longer licensed to act as a broker, or otherwise associate with firms that sell securities to the public. Hornyak is barred from association with any FINRA member in any capacity.<\/p>\n

According to FINRA, while employed as a broker at member firm Stifel, Nicolaus & Co., Inc. (\u201cStifel Nicolaus\u201d), Hornyak exercised discretion in a client\u2019s account without written authorization from the client. In January 2014, Stifel Nicolaus discharged Hornyak based on those allegations for violating firm policy. FINRA further alleged that Hornyak engaged in unauthorized trading<\/a> and unsuitable<\/a> short-term trading in Unit Investment Trusts (\u201cUIT\u201d). FINRA requested on-the-record testimony from Hornyak, however, Hornyak refused to comply and failed to appear for that questioning. As a result of his failing to cooperate with an investigation, FINRA permanently barred Hornyak from the financial industry. Hornyak consented to FINRA\u2019s findings while neither admitting nor denying the allegations against him.<\/p>\n

Hornyak was employed as a registered representative by Stifel Nicolaus from March 2006 through January 2014. Prior to that, Hornyak was employed in Purchase, New York by Morgan Stanley, Inc., from January 1998 through March 2006. According to FINRA, Hornyak\u2019s CRD shows several customer complaints against him accusing Hornyak of securities violations including excessive trading<\/a> (\u201cchurning\u201d), unsuitable investments and unauthorized trading. He was also the subject of two employment terminations for cause (one as noted above). Furthermore, customers have settled disputes against Hornyak in the amounts of $90,000, $50,000 and $10,000.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Michigan broker Kenneth Hornyak (\u201cHornyak\u201d)(CRD# 2990144), was permanently barred by the Financial Industry Regulatory Authority (\u201cFINRA\u201d) and is no longer licensed to act as a broker, or otherwise associate with firms that sell securities to the public. Hornyak is barred from association with any FINRA member in any capacity. According to FINRA, while employed as […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[589,580],"tags":[456],"class_list":["post-2902","post","type-post","status-publish","format-standard","hentry","category-churning-2","category-stockbroker-misconduct","tag-stockbroker-misconduct-2"],"yoast_head":"\nLosses with Broker Kenneth Hornyak? - Silver Law Group<\/title>\n<meta name=\"description\" content=\"If you invested with Kenneth Hornyak and have questions about how your account was handled, call the experienced attorneys at Silver Law Group today\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/kenneth-hornyak-stifel-nicolaus\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Losses with Broker Kenneth Hornyak? 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