FINRA

Without admitting or denying the findings, Kurtz consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA related to a matter that originated from the submission of a Form U5 by his member firm disclosing that he was discharged for a violation of code of ethics and business conduct related to misuse of a personal bank account.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All capacities

Indefinite

4/1/2024

FINRA

Respondent Kurtz failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Letter

Suspension

All capacities

Indefinite

Continues until required payment is made or discharged.

1/4/2024

Pursuant to Article VI, Section 3 of FINRA By-Laws, and FINRA Rule 9554, Respondent Kurtz is suspended on January 4, 2024 for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Customer alleges that when he purchased an MLCD with a seven year term, he was told that it had a one year term.

$15,638.55

Customer alleges that when she purchased an MLCD with a seven year term she was told it had a two year term.

$20,297.26

Customer alleges that when she purchased an MLCD with a multi-year term she was told it had a two year term, was not told that the product was linked to the market, and was not informed of the risks associated with the investment.

$42,343.89

U.S. BANCORP INVESTMENTS, INC.

Discharged

Rep was terminated for depositing a check and withdrawing funds from a personal bank account without sufficient funds.

Customer alleges that when he purchased an MLCD he was told it would earn six percent interest and was not told that the product was linked to the market.

$35,711.63

Customers allege that when they purchased an MLCD they were told it would earn six percent interest and were not told that the product was linked to the market.

$17,328.43

Customer alleges that when he purchased an MLCD with a seven year term he believed it had a one year term and that he could access his money after one year.

$36,394.40

Customer alleges that when she purchased an MLCD with a multi-year term she was told that she could access her money after one year, and that she could get a six percent return every year.

$15,068.20

Customer alleges that when he purchased an MLCD with a multi-year term, he was told that he would have access to all of his money after one year and that he would not lose money.

$50,765.98

A FIXED INDEXED ANNUITY WAS PURCHASED FOR THE CLIENT ON AUGUST 12, 2015. CLIENT'S DAUGHTER, WHO HAS POWER-OF-ATTORNEY, HAS ALLEGED THAT THE PURCHASE WAS NOT IN THE CLIENT'S BEST INTEREST AS THESE ASSESTS REPRESENT HIS ONLY LIQUID ASSETS WHICH HE NEEDS FOR LIVING EXPENSES.

$8,100.00

$7,296.15