An AWC was issued in which Mirsad A. Muharemovic (CRD #3122589) was assessed a deferred fine of $5,000, suspended from association with any FINRA member in all capacities for nine months, and ordered to pay $211,643, plus interest, in deferred restitution to customers. Without admitting or denying the findings, Muharemovic consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading in the accounts of senior customers.
The findings stated that Muharemovic recommended that his customers place trades in their accounts, most of which were executed using margin, and the customers routinely accepted his recommendations. Mirsad A. Muharemovic’s recommendations resulted in annualized turnover rates ranging from 5.71 to 19.26 and annualized cost-to-equity ratios ranging from 30.12 percent to 74.25 percent. As a result of Muharemovic’s unsuitable recommendations, his customers lost approximately $237,823, and paid approximately $211,643 in commissions, fees, and margin interest.
The suspension is in effect from December 19, 2022, through September 18, 2023.