Broker Investigation: Emil Skyba, formerly with Westport Capital Markets

Emil Skyba formerly with Westport Capital MarketsEmil Skyba (CRD#: 426026) is a previously registered investment advisor. Most recently, Mr. Skyba was employed as a securities representative at Westport Capital Markets, based in Westport, Connecticut (2015-2017).

Previously, this broker was also employed as a representative for UBS Financial Services in New Jersey (1993-2014).

On May 11th, 2018, Emil Skyba was permanently barred from the securities industry. FINRA reports that Mr. Skyba refused to cooperate with an investigation that was being conducted into allegations of broker misconduct.

For full information regarding these sanctions, refer to Disciplinary Proceeding No. 2017056500901.

Allegations of Broker Misconduct: Emil Skyba

Recently, the Financial Industry Regulatory Authority launched an investigation into the conduct of Emil Skyba. While working as a securities representative at Westport Capital Markets, allegations arose that Mr. Skyba improperly altered the new account forms of certain customers.

On three separate occasions, FINRA investigators made requests to Mr. Skyba regarding these allegations. On April 16th, 2018, Mr. Skyba informed FINRA that he had received the requests, but that he would not be providing any information or cooperating with the investigation.

This conduct is a direct violation of FINRA Rule 8210, which requires all registered brokers to cooperate with FINRA. Without admitting or denying wrongdoing, Emil Skyba consented to sanctions, including a permanent bar from the securities industry.

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