Among other items, FBW alleged that on April 4, 2007, it received a customer complaint alleging that Kuta had engaged in an unsuitable investment strategy and also improperly used discretion and generated high commissions.

FORBES: Claimant Sues RBC for $37 Million BUT FINRA Panel Hits Him For $1.8 Million

In 2008, Royal Bank of Canada and FBW announced a merger agreement whereby RBC Dain Rauscher Inc. acquired FBW. Subsequently, Kuta subsequently was registered with FINRA member firm RBC Capital Markets Corporation from March through September 2009.

FORBES: Claimant Sues RBC for $37 Million BUT FINRA Panel Hits Him For $1.8 Million