Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
Several customer disputes on his report have settled, the largest for $244,120 in April 2026. Emerson Equity is the firm on each customer matter.
On August 11, 2025, the Securities and Exchange Commission instituted public administrative and cease-and-desist proceedings against Barouti, according to BrokerCheck. The SEC file number is 3-22508.
In anticipation of those proceedings, Tony Barouti submitted an Offer of Settlement to the Commission, the disclosure states. Cease-and-desist proceedings are one of the tools the SEC uses to enforce the federal securities laws. The SEC hears them in its own administrative process rather than in federal court.
Customers filed this arbitration on January 23, 2025 under docket number 25-00150. Their claims included violations of federal and state securities laws and fraud in the offer or sale of securities. They also alleged unsuitable recommendations, as well as misrepresentations and omissions of material fact.
In addition, they cited the California Financial Elder Abuse Law, along with the securities acts of Washington and Colorado. The matter settled for $244,120 on April 7, 2026. The same case number also appears on the BrokerCheck report of Bruce Robert Beetz.
On the same day, April 7, 2026, Tony Barouti also settled a claim for $100,000. That customer filed on April 15, 2025 under docket number 25-00765, alleging $400,000 in damages. Its claims included negligence, breach of fiduciary duty, breach of contract, and unjust enrichment.
Smaller claims then followed, and both settled. One, filed May 13, 2025 under docket number 25-00920, alleged $205,850 and settled for $42,500. Another, filed June 4, 2025 under docket number 25-01106, alleged $25,000 and settled for $7,500 on December 31, 2025. Both alleged overconcentration, negligent misrepresentation, breach of fiduciary duty and a violation of Regulation Best Interest.
However, on each of these disclosures, Barouti says the allegations against him are false. He also says he acted within SEC, FINRA and state securities laws at all times.
Claimants filed the newest claim on September 15, 2026 under docket number 26-02106. They allege negligence, negligent misrepresentation and omission, and fraudulent misrepresentation and concealment. They also allege breach of fiduciary duty and breach of contract.
Beyond the $230,400 figure, the claimants also seek consequential and lost opportunity damages, interest, attorneys' fees and punitive damages. In his statement, Barouti says the allegations are false and that he intends to vigorously defend himself against these claims. The claim remains pending, and no arbitrator has ruled on it.
Regulation Best Interest is an SEC rule that took effect in June 2020. It requires a broker dealer to act in a retail customer's best interest when making a recommendation. In addition, the firm and its representative cannot put their own interests ahead of the customer's.
FINRA member firms must supervise the activities of their brokers. If you have questions about an account that Tony Barouti handled, call Soreide Law Group at (888) 760-6552. You can also reach us online to speak with a securities attorney. Our securities lawyers handle FINRA arbitration claims on a contingency fee basis. Learn how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of October 6, 2026. Allegations in customer complaints and arbitrations are claims, not findings. Pending claims remain open and undecided. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.
Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
William Tunink (CRD: 2738224) settled a customer claim for $299,000 on August 11, 2026, according to his BrokerCheck report. The customer alleged that he obtained loans from the customer, and that some of the money went into an investment.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
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