Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
According to a recent article in LeapRate.com, it was reported that GTS Securities was fined a total of $150,000 by the Financial Industry Regulatory Authority (FINRA). The FINRA report lists the date initiated as February 13, 2025.
FINRA said in its release that the fine is for publishing inaccurate trade execution reports and failing to maintain adequate supervisory procedures. According to the FINRA report, from May 2019 through March 2021, GTS Securities published 23 inaccurate monthly reports of executions of covered orders in National Market System (NMS) securities required under Regulation NMS Rule 605 of the Securities Exchange Act of 1934. FINRA states that over 80% of the reported 25,000 orders did not meet the definition of a covered order.
According to the FINRA report, the inaccuracies are said to have stemmed from multiple coding errors in GTS Securities’ proprietary reporting system. FINRA identified these issues during a March 2021 examination. The issues are said to have prompted GTS to switch to a third-party vendor for its reporting and issue corrected reports in November 2021. Also, FINRA said it found that GTS’s supervisory system was inadequate. The firm lacked written supervisory procedures (WSPs) and internal reviews to ensure compliance with Rule 605. GTS Securities updated its procedures in August 2021, implementing new oversight measures.
GTS Securities has agreed to the fine and censure without admitting to or denying these allegations.
GTS Securities is headquartered in New York, New York and has approximately 130 registered representatives across five branches. GTS is a market-maker in listed equities and options and a proprietary trading firm.
To discuss this issue or any other broker/dealer, or securities issues, please contact Soreide Law Group and speak to an experienced securities lawyer at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA on a contingency fee basis.
Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
William Tunink (CRD: 2738224) settled a customer claim for $299,000 on August 11, 2026, according to his BrokerCheck report. The customer alleged that he obtained loans from the customer, and that some of the money went into an investment.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
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