Howard Kavinsky Barred over Alleged Falsifications
Howard Kavinsky (CRD# 5881623), formerly a broker registered with B. Riley, falsified account statements, according to a recent disciplinary action. MDF Law is investigating the former Chicago-based financial professional for similar conduct. If you have concerns about investments in your accounts, contact us for a free and confidential consultation.
To learn more about the allegations against Mr. Kavinsky, continue reading this post. The information below is sourced from his BrokerCheck profile, a Financial Industry Regulatory Authority record examined on January 14, 2025.
FINRA Alleges Howard Kavinsky Falsified Account Statements
On December 20, 2024, FINRA released a Letter of Acceptance, Waiver, and Consent (# 2024082486101) detailing its disciplinary action against Mr. Kavinsky. As the Letter alleges, Mr. Kavinsky falsified more than 190 account statements for at least eight customers, including senior citizens. He falsified these statements “by overstating the customers’ account balances to create the misimpression that their accounts contained more funds than they actually did.”
In addition, FINRA found, he falsified account statements for at least six of these clients to reflect hedge fund investments that he had not actually made. He also allegedly responded falsely to requests from FINRA as it investigated his conduct. Finding that his activities violated industry rules, FINRA barred him from associating with any member firm in all capacities.
Investor Dispute Seeks 6-Figure Damages
On June 22, 2024, a party of investors lodged a dispute involving Mr. Kavinsky. The claim alleges that he provided false and misleading account information. It also alleges that “client funds have gone missing” from their accounts. The dispute, which is still pending, seeks $760,000 in damages.
B. Riley Fired Broker in 2024
On May 16, 2024, B. Riley Wealth Management disclosed its termination of Mr. Kavinsky’s registration. As this disclosure reflects, B. Riley fired him over allegations that he failed to follow firm procedures. The procedures in question “related to the creation and use of consolidated client reports,” per the disclosure. He also allegedly made misrepresentations of customers’ account values, created “unfounded customer statements,” and failed to forward “potential customer grievances.”
FINRA: Broker Previously Based in Chicago
Mr. Kavinsky launched his career as a broker in 2011. That year, he joined Hornor Townsend & Kent’s branch office in Chicago, Over the following years, he went on to work with firms including Morgan Stanley, David A. Noyes & Company, and National Securities Corporation. He joined B. Riley’s Chicago office in 2022, departing in 2024 for Supreme Alliance. Having left Supreme Alliance later in 2024, he is now barred from acting as a broker.
Fraud Concerns? Call MDF Law for a Free Consultation
Are you a former client of Howard Kavinsky who suffered losses in your accounts? You have rights as an investor, including the right to pursue a FINRA arbitration proceeding. Call MDF Law at 800-767-8040 for a free consultation with our team. Not only do we provide free consultations nationwide, but our clients only pay a fee if they successfully recover lost funds. Don’t delay—call MDF Law today.