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Former CSFB Broker Sanctioned for Host of Violations
The NASD has sanctioned Jayme Kurtyka, formerly with CSFB. Without admitting or denying the allegations, Kurtyka was fined, suspended for 30 days and ordered to requalify by examination for his Series 7 license.
The NASD accused Kurtyka of the following violations. First, he recommended and effected securities transactions on margin, without having a reasonable basis to believe that they were suitable. Second, Kurtyka exercised discretion without having written authorization to do so. Third, he prepared and mailed sales literature that was misleading because it was not fair, not balanced, omitted material facts and improperly compared his portfolio's performance to that of an index.
Source: NASD Press Release, May, 2005
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