Michael Duch suspended by FINRA.
In December, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that Michael Duch of Aberdeen, South Dakota with Kovack Securities of Aberdeen, SD submitted an acceptance, waiver and consent letter whereby he was suspended from association with any FINRA member in any capacity for twenty days and fined $15,000. The FINRA complaint alleged that Duch participated in unapproved outside business activities whereby he facilitated an investment into an oil and gas securities transaction, as well as an investment into an unregistered promissory note investment. These private securities transactions were not approved by Duch’s broker dealer.
Registration and disciplinary history