Investors apparently complained about securities broker Stephen Yauman Kwan (also known as Steve Kwan) [CRD: 3183681, Spicewood, Texas], based on disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Kwan worked for Madison Avenue Securities LLC from April 3, 2006, to November 20, 2022. Investors are encouraged to review the information below to discover more about Kwan’s client dispute disclosures.
Evidently, a Madison Avenue Securities LLC client filed FINRA Arbitration No. 23-03405 concerning Stephen Kwan. Primarily, the client alleged that Kwan made unsuitable recommendations. Because of this, the client allegedly incurred damages connected to direct investments and real estate securities. As a result, on November 27, 2024, Madison Avenue Securities LLC settled this matter by paying the client $345,000 in damages.
Additionally, a client of Madison Avenue Securities LLC disputed Kwan’s sales practices, according to a complaint. Allegedly, Kwan made unsuitable recommendations. It appears that Kwan caused the client to experience damages relating to direct investments. Consequently, Madison Avenue Securities LLC opted to settle the matter on December 5, 2023, by compensating the client in the amount of $15,000.
Particularly, a Madison Avenue Securities LLC client filed FINRA Arbitration No. 21-00691 about Kwan. Mainly, the client alleged that Kwan made unsuitable recommendations, breached his fiduciary duty, and failed to supervise certain representatives. For this reason, the client allegedly sustained damages linked to direct investments. Therefore, on September 22, 2022, Madison Avenue Securities LLC settled this matter by paying the client $50,000 in damages.
Notably, a client of Madison Avenue Securities LLC contested Kwan’s sales practices by filing FINRA Arbitration No. 21-02363. Allegedly, Kwan made unsuitable recommendations. It appears that Kwan caused the client to sustain damages relating to direct investments. As a result, Madison Avenue Securities LLC opted to settle the matter on December 5, 2022, by compensating the client in the amount of $19,500.
Do you need clarification on any investment losses relating to Stephen Kwan? Get in touch with Soreide Law Group at (888) 760-6552 or online and consult with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for clients located throughout the country. Also, the firm represents investors on a contingency fee basis and advances all costs. Kwan and brokerage firms Kwan worked for deny allegations of sales practice violations.
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