Former Western International Securities, Inc. broker Doron Kochavi (CRD# 1011155) is accused of investment losses related to stock investments. He has been registered with Western International Securities, Inc. in Pasadena, California, since 2015.
Previously, he was registered with UBS Financial Services Inc. in Century City, California, from 2012 to 2015 and previously with J.P. Morgan Securities LLC in Los Angeles, California, from 1993 to 2012, when he was terminated regarding, “the firm has concluded that the rr exercised discretion in certain client accounts without written authorization.”
In February 2024, FINRA sanctioned him to pay a $10,000 civil and administrative penalty and fine and suspended him for two months after he consented to the sanctions and to the entry of findings that he “mischaracterized securities transactions in a customer account as unsolicited when they were actually solicited.” This has caused the firm to “make and preserve inaccurate books and records.”
Doron Kochavi Customer Complaints
He has been the subject of six customer complaints between 1986 and 2019, one of which was closed without action, according to his CRD report. The most recent complaint is regarding:
October 2019. “Breach of Fiduciary Duty.” The customer sought $4 million in damages and the case was settled for $2.8 million. The case is regarding common and preferred stocks and took place while Kochavi was registered with Western International Securities, Inc.
Previous customer complaints were regarding unsuitable investment recommendations and excessive trading in customer investment accounts.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Western International Securities, Inc. may be liable for investment or other losses suffered by Doron Kochavi’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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