FINRA Sanctions Todd Kling

Soreide Law Group is investigating possible investor claims against securities broker Todd Kling (also known as Todd Franklin Kling) [CRD: 3034284, New York, NY]. Mainly, FINRA sanctioned the securities broker, who worked for Joseph Stone Capital LLC. Allegedly, Kling made excessive trades. Here is a brief summary of FINRA’s allegations against Kling.

FINRA Sanctions Todd Kling For Excessive Trading

Evidently, on December 17, 2021, FINRA issued Case: 2019063821606 sanctioning Todd Kling for infractions. Specifically, Kling was issued a 3-month suspension. Notably, FINRA alleged that Kling engaged in excessive trading in an elder client’s account.

The client had an average month-end equity of $259,633. However, the securities broker recommended trades that collectively had a principal value of more than $5.4M. He caused a turnover rate of more than 12 in the client’s account. Supposedly, he caused the client to incur $153,879 between costs, commissions, and margin interest.

Kling Employment Information

Kling worked for Joseph Stone Capital LLC in New York, NY, as a securities broker from 2016 to 2022. It appears that Kling worked for other firms in NY including Royal Alliance Associates Inc., First Midwest Securities Inc., Financial Network Investment Corporation, and First Republic Group LLC.

Damages Resulting From Joseph Stone Capital LLC Securities Broker Todd Kling?

Did you suffer damages through investing with Kling? Reach out to Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, who has effectively recovered funds for hundreds of investors in all 50 states, represents clients on a contingency fee basis and advances all costs. The firm will take the time to fully understand your situation and will carefully explain your legal options. Kling and brokerage firms Kling worked for deny any and all allegations of sales practice violations.