Arkady Ginsburg (CRD #5256747, Valley Stream, New York)

March 23, 2022 – An AWC was issued in which Ginsburg was suspended from association with any FINRA member in all capacities for six months and ordered to pay $113,591 in partial restitution to customers. In light of Ginsburg’s financial status, no monetary fine or prejudgment interest has been imposed. Without admitting or denying the findings, Ginsburg consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading in customer accounts. The findings stated that Ginsburg controlled the volume and frequency of trading in the accounts and therefore exercised de facto control over the customers’ accounts because he recommended the trading in the customers’ accounts and the customers routinely followed his recommendations. Ginsburg’s trading in the customer accounts generated high cost-to-equity ratios and turnover rates, as well as significant losses and trading costs. As a result, the customers suffered market losses totaling $686,640.39, while Ginsburg earned a total of $113,591 in commissions. The suspension is in effect from April 18, 2022, through October 17, 2022. (FINRA Case #2019064898601)