On November 5, 2021, SEBASTIAN WYCZAWSKI (CRD#: 2835135), was fined $5,000, ordered to pay restitution of $21,644 plus interest, and suspended for five months, from December 6, 2021 until May 5, 2022, by the Financial Industry Regulatory Authority (FINRA). He was formerly registered with Joseph Stone Capital LLC of Manorville, New York.
According to the FINRA Acceptance, Waiver and Consent (AWC), without admitting or denying FINRA’s findings, SEBASTIAN WYCZAWSKI consented to the sanctions and to the entry of findings that he allegedly engaged in excessive and unsuitable trading, including the use of margin, in clients' accounts.
FINRA’s findings stated that although one client had an average month-end equity of approximately $51,340, SEBASTIAN WYCZAWSKI allegedly recommended trades with a total principal value of more than $528,759 in the client's account, which resulted in an annualized turnover rate of more than 17.
According to the FINRA findings, the trades that SEBASTIAN WYCZAWSKI recommended allegedly caused the client to pay $10,397 in commissions, trading costs and margin interest, which resulted in an annualized cost-to-equity ratio in excess of 34 percent, which according to FINRA meant that the client's account would have had to grow by more than 34 percent annually just to break even.
Also, FINRA stated that SEBASTIAN WYCZAWSKI recommended trades with a total principal value of more than $300,524 in a second client's account that had an average month-end equity of approximately $14,831. This allegedly resulted in an annualized turnover rate of more than 17. According to FINRA, the trades Wyczawski recommended in the second client's account caused the client to pay $11,247 in commissions, trading costs and margin interest, which resulted in an annualized cost-to-equity ratio in excess of 65 percent.
This alleged excessive and unsuitable trading took place between June 2016 and January 2017, according to an article in Financial Advisor IQ.
According to FINRA’s BrokerCheck, available on FINRA’s website, SEBASTIAN WYCZAWSKI has been in the securities industry for 23 years and has been listed with 6 firms. He has two disclosures on his FINRA CRD report.
He is currently listed with since 9/10/2021:
VCS VENTURE SECURITIES
200 Old Country Road
Mineola, NY 11501
He was previously listed with:
07/06/2015 - 09/28/2021 JOSEPH STONE CAPITAL LLC - MANORVILLE, NY
If you’ve suffered investment losses due to the actions or recommendations of SEBASTIAN WYCZAWSKI of VCS Venture Securities Mineola, New York and formerly of Joseph Stone Capital of Manorville, New York, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial loss through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.