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Eli Ungar Has Been Sanctioned by FINRA

Eli UngarPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 17, 2017 indicate that New Jersey-based Wells Fargo Clearing Services broker/adviser Eli Ungar has been sanctioned by FINRA. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Ungar (CRD# 4748236).

Eli Ungar has spent twelve years in the securities industry and has been registered with Wells Fargo Advisors in Chatham, New Jersey since 2016. Previous registrations include HSBC Securities in Florham Park, New Jersey; PNC Investments in North Brunswick, New Jersey; Banc of America Investment Services in Summit, New Jersey; E-Trade Securities in Jersey City, New Jersey; TD Waterhouse Investment Services in Omaha, Nebraska; Ladenburg Thalmann & Company in New York, New York; and Harrison Securities in Port Washington, New York. He is a registered broker with six US states and territories: Alabama, Florida, Maryland, New Jersey, New York, and North Carolina.

According to his BrokerCheck report, Eli Ungar has received one FINRA sanction.

In May 2017 FINRA sanctioned him following allegations he “printed approximately 328 customer account records from his former member firm that included, among other things, date of birth, social security number, financial account number and account balances for each customer.” FINRA’s findings stated further: “Ungar subsequently took the printed records from the firm and used the non-public personal information to contact his former firm clients at his new employing broker-dealer to which he was transitioning. At all relevant times, the former firm maintained policies and procedures that required its employees to protect the firm’s confidential customer information. The firm’s policies prohibited Ungar from reproducing or using such confidential information for any purpose other than conducting firm business. The customer account records constituted non-public personal information under Regulation S-P, because that information was provided by firm customers to obtain financial products and services; resulted from transactions involving financial products or services the firm provided to its customers; and/or was obtained in connection with providing financial products or services to firm customers.” He was issued a fine of $10,000 and a 15-day suspension which will commence on June 5, 2017.

If you or someone you know has complaints regarding Eli Ungar, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.