Murat Kartal (CRD #6346419, Brooklyn, New York)

July 17, 2023 – An AWC was issued in which Kartal was suspended from association with any FINRA member in all capacities for 10 months. In light of Kartal’s financial status, no monetary sanctions have been imposed. Without admitting or denying the findings, Kartal consented to the sanction and to the entry of findings that he unsuitably and excessively traded a senior customer’s account. The findings stated that Kartal engaged in quantitatively unsuitable trading in the senior customer’s account resulting in a high turnover rate, high annualized cost-to-equity ratio, and significant losses. Kartal’s trading in the customer’s account generated total trading costs of $206,667, including $189,446 in commissions, and caused $51,959 in realized losses. Kartal’s customer routinely followed his recommendations to engage in high frequency trading and, as a result, Kartal exercised de facto control over the account. Kartal’s trading in the customer’s account, was excessive and unsuitable given the customer’s age and investment profile. The suspension is in effect from July 17, 2023, through May 16, 2024. (FINRA Case #2018056490306)