December 22, 2020

Norman Stanley Batansky Fined by FINRA

finra fines and suspends broker by soreide law group

Soreide Law Group, based in South Florida, obtained the following information on FINRA’s website, regarding the South Florida broker/investment advisor, currently listed with PEAK BROKERAGE SERVICES, LLC of Jupiter, Florida as a broker, and BLACKRIDGE ASSET MANAGEMENT, LLC of Boca Raton, Florida as an investment advisor,
Norman Stanley Batansky (CRD #834388, Boca Raton, Florida).
On October 23, 2020, an Acceptance, Waiver and Consent (AWC) was issued by FINRA in which Batansky was fined $7,500 and suspended from association with any FINRA member in all capacities for 30 days.
Without admitting or denying FINRA’s findings, Norman Stanley Batansky consented to the sanctions and to the entry of findings that he allegedly participated in a private securities transaction by facilitating a $50,000 investment by his son in a convertible promissory note without providing prior written notice to his member firm.
FINRA’s findings alleged that Norman Stanley Batansky forwarded his son, a firm client, an email concerning an investment opportunity. According to FINRA’s findings, attached to the email was an investor overview, convertible note term sheet and a subscription agreement. Allegedly, Batansky used his own personal email account, and sent the company’s placement agent his son’s residential address and date of birth. Batansky used his personal email account to inform the placement agent that his son intended to invest $50,000 in the company. According to FINRA, Batansky also asked his sales assistant to email the placement agent a scanned copy of his son’s signed subscription agreement for his investment, a completed investor profile and questionnaire, and a W-9 tax form. Batansky allegedly arranged through his branch office’s operations department to wire $50,000 from his son’s brokerage account to his personal bank account. Batansky then allegedly prepared and emailed his son a draft letter of instruction to his bank to wire the funds from his account to the company’s bank account, and his son completed his investment in the company.
According to the FINRA report, Norman Stanley Batansky did not receive compensation in connection with his son’s investment. FINRA alleges Batansky falsely attested in a compliance questionnaire that he had not participated in any private securities transactions.
FINRA’s findings also stated that Norman Stanley Batansky allegedly used his personal email account to send securities-related emails that were not monitored or retained by the firm. Batansky also allegedly attested in compliance questionnaires that he understood that he must use firm or approved email addresses for all business-related communications with all clients and prospects.
The suspension was in effect from November 16, 2020, through December 15, 2020. (FINRA Case #2019062003101)
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, Norman Stanley Batansky has been in the securities industry for 43 years.  Batansky has 6 Disputes on his FINRA CRD report, 4 are "Customer Disputes." He has been listed with 10 firms.
He has been listed with the following firm since 2/5/2019 as a broker:
PEAK BROKERAGE SERVICES, LLC
1070 East Indiantown Road Suite 208-210
Jupiter, FL 33477
Batansky has been listed as a financial advisor with the following firm since 2/7/2019:
BLACKRIDGE ASSET MANAGEMENT, LLC
77549 La Pazza Blvd. Apt. 302,
Boca Raton, FL 33433
The more recent firms he was previously listed with are:
08/02/2016 - 03/19/2019  LPL FINANCIAL LLC - KING OF PRUSSIA, PA
08/02/2016 - 04/10/2019  PRIVATE ADVISOR GROUP, LLC - KING OF PRUSSIA, PA
10/17/2007 - 08/15/2016  RBC CAPITAL MARKETS, LLC - CONSHOHOCKEN, PA
If you’ve experienced investment losses due to the actions or recommendations of Norman Stanley Batansky contact South Florida based Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at:   888-760-6552.
Soreide Law Group works on a contingency fee basis and represents clients nationwide before FINRA.

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