Kalos Capital, Inc. Fined by FINRA
A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured, fined $30,000 and ordered to pay $86,614, plus interest, in restitution to customers. Kubiak was fined $5,000 and suspended from association with any FINRA® member in all capacities for three months. Without admitting or denying the findings, the firm and Kubiak consented to the sanctions and to the entry of findings that Kubiak recommended the purchase of leveraged and inverse exchange traded funds (LIETFs) to customers without having a sufficient understanding of the risks and features associated with the LIETFs.
