Articles Tagged with Sebastian Wyczawski

Chicago-based Stoltmann Law Offices is representing investors who’ve suffered losses from dealing financial advisors and brokers who’ve churned their accounts. FINRA, the U.S. securities industry regulator, suspended and fined broker Sebastian Wyczawski, while he was registered with Joseph Stone Capital of Manorville, New York, between June 2016 and January 2017. The broker allegedly engaged in “excessive and unsuitable trading” in the account of an unidentified customer, according to Financialadvisoriq.com.

In addition, between September 2016 and September 2017, Wyczawski also allegedly engaged in excessive and unsuitable trading in the account of another customer FINRA identifies as “Customer 2,” placing 45 trades. FINRA and other regulators consider turnover rates of six or more and cost equity ratios of 20% (an industry metric measuring overtrading) or more as conclusory evidence of excessive trading. Wyczawski consented to a five-month suspension and to pay a $5,000 fine as well as restitution of $21,644 plus interest, all without admitting or denying the findings, FINRA stated.

Two months ago, Wyczawski left Joseph Stone for VCS Venture Securities, in Mineola, New York, according to BrokerCheck, which also notes Wyczawski has two customer disputes on his record, both settled. One, from 2004, sought $75,000 for allegations of unauthorized transactions and was settled for half that amount. The second, from 2018, sought $250,000 over allegations of negligence, unsuitability and overconcentration, among other violations, and was settled for $17,500, according to BrokerCheck.

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