Securities Arbitration Lawyer Blog
FINRA has barred former Wavecrest Securities, LLC and Pickwick Capital Partners, LLC broker Louis Kreisberg from the securities industry for failing to cooperate with a FINRA investigation.
The matter originated from a FINRA investigation of Kreisberg’s potential participation in private placement offerings.
If you have lost money with Louis Kreisberg, Wavecrest Securities, LLC, or Pickwick Capital Partners, LLC, contact FINRA arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.
FINRA Letter of Acceptance, Waiver, and Consent
Louis Kreisberg and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) on June 3, 2021.
On May 29, 2020, in connection with an investigation into potential undisclosed private securities transactions, FINRA sent a request to Kreisberg for documents and information pursuant to FINRA Rule 8210.
Kreisberg initially responded to FINRA’s request, providing documents and information. However, certain documents were not produced, and after multiple follow up discussions, Kreisberg refused to produce those documents.
On April 27, 2021, Kreisberg acknowledged receipt of FINRA’s request and indicated that he would not produce the information or documents requested, and would not participate further in the investigation.
By refusing FINRA’s request to produce the information and documents pursuant to FINRA Rule 8210, Kreisberg violated FINRA Rules 8210 and 2010.
FINRA Rules 8210 and 2010
FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may require a person subject to FINRA’s jurisdiction “to provide information orally, in writing, or electronically . . . with respect to any matter involved in [a FINRA] investigation[.]” FINRA Rule 8210(c) further states that “[n]o . . . person shall fail to provide information . . . pursuant to this Rule.”
A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”
Louis Kreisberg (CRD#: 1352881)
Kreisberg has 31 years of experience in the securities industry and had been registered as a broker with Wavecrest Securities, LLC in Brentwood, TN from January 2013 to April 2020. He was registered with Pickwick Capital Partners, LLC in White Plains, NY from October 2012 to January 2020.
Kreisberg is not currently registered or associated with any FINRA member firm. However, he remains subject to FINRA’s jurisdiction.
How to Recover Losses or Obtain a Free Consultation
If you have lost money with Louis Kreisberg, Wavecrest Securities, LLC, or Pickwick Capital Partners, LLC, contact FINRA arbitration lawyers August Iorio and Jorge Altamirano of Iorio Altamirano LLP at august@ia-law.com, jorge@ia-law.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. We pursue FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.