Client Seeks $4.7 Million in Dispute with Ronald Sirt
Ronald Sirt (CRD #: 1289440), a broker registered with Wells Fargo Clearing Services, allegedly failed to follow instructions, according to his BrokerCheck record, accessed on September 25, 2022. Read on if you have questions about his conduct as a broker.
Investor Dispute
On August 5, 2022, an investor named Ronald Sirt in a dispute alleging that Wells Fargo and other brokers failed to follow her instructions concerning an account of which she was a joint owner. The client seeks $4,731,350 in damages in this pending dispute.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Failures to follow instructions violate this rule.
FINRA Censure and Fine
On January 30, 2014, Ronald Sirt consented to the entry of findings that he allegedly failed to detect excessive mark-ups on certain fixed income transactions while employed by Howe Barnes Hoefer & Arnett’s Private Client Services group. According to a Letter of Acceptance, Waiver & Consent (AWC), Ronald Sirt allegedly also failed to reasonably enforce the firm’s procedures with regard to fair pricing.
The AWC concluded that these allegations constituted violations of MSRB Rule G-27.
MSRB Rule G-27
MSRB G-27 requires firms to establish supervisory systems to ensure their compliance with securities regulations.
FINRA Rule 3110
FINRA Rule 3110 also requires firms to maintain systems of supervision to identify and avoid violations of securities regulations. Among other things, firms must appoint supervisors with the appropriate training or experience for their role.
Sanctions
Ronald Sirt consented to the following sanctions:
- $30,000 fine
- Censure
- Requalification for his Series 24 license within 60 days of FINRA’s acceptance of the AWC
You can read a copy of the AWC here.
Background Information
Ronald Sirt has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 – Futures Managed Funds Examination
- Series 7 – General Securities Representative Examination
- Series 24 – General Securities Principal Examination
- Series 12 – NYSE Branch Manager Examination
- Series 53 – Municipal Securities Principal Examination
- Series 4 – Registered Options Principal Examination
Ronald Sirt is a registered broker in Arkansas, Illinois, Massachusetts, and Utah. He is also a registered investment adviser in Illinois and Minnesota.
He has also worked for the following firms:
- Leumi Investment Services (CRD#:105387)
- Howe Barnes Capital Management (CRD#:110715)
- Howe Barnes Hoefer & Arnett (CRD#:2240)
- Raymond James & Associates (CRD#:705)
- Raymond James Financial Services (CRD#:6694)
- Investors Brokerage Services (CRD#:4257)
- Citicorp Investment Services (CRD#:23988)
- Financial Horizons Securities (CRD#:20221)
- Cowen & Company (CRD#:1541)
- Freehling & Company (CRD#:1906)
Kurta Law Can Help
If you worked with Ronald Sirt and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.
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