The Financial Industry Regulatory Authority (FINRA) reports allegations of sales practice violations by securities broker Steven Kiyoto Hirata [CRD #: 1188927, Fresno, CA]. Hirata worked for PFS Investments Inc. from 2010-2021 and PFS Investments Inc. from 1984-2009. Notably, FINRA barred the securities broker. Read on to learn more about the allegations against him.
Evidently, on May 31, 2022, FINRA issued Acceptance, Waiver, and Consent (AWC) #: 2021072592201. This AWC shows that FINRA barred the stockbroker from having any association with FINRA-member firms. Supposedly, Hirata failed to cooperate with FINRA's investigation.
Specifically, FINRA says that on September 17, 2021, Steven Hirata's former employer, PFS Investments Inc., filed a Form U5. PFS identified in this Form U5 that it discharged Hirata because he allegedly engaged in an undisclosed private securities transaction.
FINRA began an investigation into Hirata as a result of the allegations contained in the Form U5. On March 29, 2022, FINRA sent a request to Hirata for the production of documents and information. On May 11, 2022, Hirata indicated to FINRA staff that he had received their request. However, he stated that he would not produce the requested information and documents. As a result, Hirata violated FINRA Rules 2010 and 8210.
Have you experienced damages through any sales practice violations by Steven Hirata? If the answer is yes, get in touch with Soreide Law Group at (888) 760-6552 and speak with a securities lawyer regarding a possible recovery of your investment damages. Soreide Law Group, who has successfully recovered money for investors throughout all 50 states, represents clients on a contingency fee basis and advances all costs. Hirata and brokerage firms Hirata associated with deny any and all allegations of sales practice violations.
Soreide Law Group is investigating potential investor claims involving Cambridge Investment Research following a FINRA disciplinary action concerning Unit Investment Trust (UIT) recommendations. In April 2026, FINRA censured Cambridge Investment Research after finding supervisory deficiencies involving certain UIT recommendations made to retail clients. Investors who incurred excessive fees, unnecessary costs, or other damages associated with […]
Soreide Law Group is investigating potential investor claims involving Infinity Financial Services after FINRA sanctioned the firm for supervisory failures involving deferred variable annuity exchanges and recommendations. Investors who incurred surrender charges or other losses in connection with variable annuity transactions recommended through Infinity should review the allegations that led to FINRA's disciplinary action against […]
Soreide Law Group is investigating potential investor claims involving losses in NextGenTech Investments LLC, a private fund managed by Sestante Capital LLC that purported to provide investors with economic exposure to shares of private companies, including Anduril Industries. Recent criminal proceedings involving Sestante Capital's manager have raised significant concerns regarding the offering, the representations made […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com