FINRA suspended and fined securities broker Andre Krause [CRD: 4060322, Woodbridge, New Jersey], according to disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Andre Krause joined The Investment Center Inc. on January 14, 2005. Keep reading to learn more about Andre Krause’s regulatory issues and how they might have affected his clients.
FINRA Fined Krause For Mismarking Trades
Specifically, on March 19, 2024, FINRA issued Case: 2023080625001 sanctioning Andre Krause. Notably, Krause was subjected to a two-month suspension and a fine of $10,000. Evidently, FINRA alleged that Krause caused his employer, The Investment Center Inc., to maintain inaccurate records by mismarking order tickets as unsolicited when he had actually solicited the trades.
Regulatory Action Against Andre Kraus Involved Solicited Trades
Supposedly, from September 2020 to August 2021, Krause incorrectly marked 1,555 order tickets as unsolicited, although he had solicited these securities transactions. This action led to inaccurate firm records, breaching FINRA Rules 4511 and 2010.
The Investment Center Inc. had clear procedures requiring representatives to accurately record the solicitations of transactions.
The matter culminated in Andre Krause accepting the terms of a FINRA Letter of Acceptance, Waiver, and Consent (AWC), agreeing to the sanctions without admitting or denying the findings.
Did You Sustain Losses Because Of Securities Broker Krause?
Did you suffer losses because of Andre Krause? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors across the country, works on a contingency fee basis, and advances all costs.
