Former Ameriprise Advisor Barred by FINRA for Non-Cooperation in Crypto Business Investigation
From the desk of Jim Eccleston at Eccleston Law
A former Ameriprise Financial advisor, Eric V. Kubiak, has chosen an industry bar over full cooperation with a Financial Industry Regulatory Authority (FINRA) investigation into his undisclosed outside business activity involving crypto assets.
The investigation stemmed from a U5 termination notice filed by Ameriprise in April, stating that Kubiak was allowed to resign following a suspension in March related to an internal review of his potential involvement in undisclosed crypto-related activities. Kubiak's partial response to FINRA in September did not meet the regulator's requirements, leading to a violation of Rule 8210 and Rule 2010 and an automatic industry bar.
According to AdvisorHub, Kubiak, through his legal counsel, informed FINRA that he was unwilling to produce requested confidential or privileged information and documents. Kubiak, who neither admitted nor denied the allegations, accepted FINRA's findings and industry bar.
Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.
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