{"id":9758,"date":"2021-02-17T17:01:16","date_gmt":"2021-02-17T22:01:16","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9758"},"modified":"2022-01-04T09:11:08","modified_gmt":"2022-01-04T14:11:08","slug":"steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/","title":{"rendered":"Steven Luftschein Of Aegis Capital &#038; Joseph Stone Capital LLC Barred From Industry For Churning"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9759 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Steven-Luftschein.jpg\" alt=\"Steven Luftschein (Steven Robert Luftschein CRD# 2690117) was recently barred from acting as a broker by the Financial Industry Regulatory Authority (FINRA) following an investigation into allegations that Luftschein violated federal securities laws. Luftschein, who operated in the greater New York area, was registered with Aegis Capital Corp. from 2013-2016, and then with Joseph Stone Capital LLC for the years 2017-2018. FINRA Filed A Disciplinary Complaint In May 2020 In May 2020, the FINRA Department of Enforcement filed a Complaint against Luftschein alleging that \u201cwhile associated with Aegis Capital Corp. . . . [Luftschein] churned and excessively traded the accounts of three of his Firm customers . . .\u201d.\u00a0 Specifically, FINRA alleged: Luftschein frequently engaged in unauthorized trading by making purchases and sales of securities without first discussing the transactions with Customers and obtaining their authorization; Luftschein\u2019s churning and excessive trading was unsuitable and caused losses of more than $261,000 in the Customers\u2019 accounts; and Luftschein\u2019s trading in the Customers\u2019 accounts generated gross sales credits and commissions of approximately $136,200, with Luftschein receiving a substantial percentage of this amount. For allegedly engaging in this misconduct, FINRA brought causes of action for (1) Churning in violation of Section 10(b) of the Securities Exchange Act, Rule 10b-5, and FINRA Rules 2020 and 2010, (2) Excessive Trading\/Quantitative Unsuitability in violation of FINRA Rules 2111 and 2010, and (3) Unauthorized Trading in violation of FINRA Rule 2010. In January 2021, Luftschein ultimately accepted an offer of settlement wherein he agreed to a bar from association with any FINRA member firm in any capacity.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Steven-Luftschein.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Steven-Luftschein-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Steven Luftschein (Steven Robert Luftschein CRD# <a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/2690117\" target=\"_blank\">2690117<\/a>) was recently barred from acting as a broker by the Financial Industry Regulatory Authority (FINRA) following an investigation into allegations that Luftschein violated federal securities laws. Luftschein, who operated in the greater New York area, was registered with Aegis Capital Corp. from 2013-2016, and then with Joseph Stone Capital LLC for the years 2017-2018. <a href=\"https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/#more-9758\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Steven Luftschein (Steven Robert Luftschein CRD# 2690117) was recently barred from acting as a broker by the Financial Industry Regulatory Authority (FINRA) following an investigation into allegations that Luftschein violated federal securities laws. Luftschein, who operated in the greater New York area, was registered with Aegis Capital Corp. from 2013-2016, and then with Joseph Stone [&hellip;]<\/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":[],"class_list":["post-9758","post","type-post","status-publish","format-standard","hentry","category-churning-2","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Steven Luftschein Of Aegis Capital &amp; Joseph Stone Capital Barred<\/title>\n<meta name=\"description\" content=\"Steven Luftschein was recently barred from acting as a broker following an investigation into allegations that he violated securities laws.\" \/>\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\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Steven Luftschein Of Aegis Capital &amp; Joseph Stone Capital Barred\" \/>\n<meta name=\"twitter:description\" content=\"Steven Luftschein was recently barred from acting as a broker following an investigation into allegations that he violated securities laws.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Steven-Luftschein.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Steven Luftschein Of Aegis Capital & Joseph Stone Capital Barred","description":"Steven Luftschein was recently barred from acting as a broker following an investigation into allegations that he violated securities laws.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/","twitter_card":"summary_large_image","twitter_title":"Steven Luftschein Of Aegis Capital & Joseph Stone Capital Barred","twitter_description":"Steven Luftschein was recently barred from acting as a broker following an investigation into allegations that he violated securities laws.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Steven-Luftschein.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/","url":"https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/","name":"Steven Luftschein Of Aegis Capital & Joseph Stone Capital Barred","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/#primaryimage"},"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Steven-Luftschein.jpg","datePublished":"2021-02-17T22:01:16+00:00","dateModified":"2022-01-04T14:11:08+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"Steven Luftschein was recently barred from acting as a broker following an investigation into allegations that he violated securities laws.","breadcrumb":{"@id":"https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/#primaryimage","url":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Steven-Luftschein.jpg","contentUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Steven-Luftschein.jpg","width":300,"height":200},{"@type":"BreadcrumbList","@id":"https:\/\/www.silverlaw.com\/blog\/steven-luftschein-of-aegis-capital-joseph-stone-capital-llc-barred-from-industry-for-churning\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.silverlaw.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Steven Luftschein Of Aegis Capital &#038; 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