The Securities and Exchange Commission has filed a civil enforcement action against Brian Kuzdas and John Rowland, alleging investment fraud related to their securities activities and dealings with investors. The SEC announced the charges on July 24, 2026, as Litigation Release No. LR-26593, adding another case to the commission’s active enforcement docket against individuals who allegedly misled investors about the risks and characteristics of investment products they recommended.
What the SEC complaint alleges
The SEC’s civil complaint accuses Brian Kuzdas and John Rowland of securities fraud in connection with investment schemes that allegedly misled investors about the nature, risks, and potential returns of the investments they offered. The commission filed the civil action in federal court and is seeking injunctive relief to bar future violations, disgorgement of ill-gotten gains, prejudgment interest, and civil monetary penalties against both defendants.
When the SEC files a civil fraud complaint, the Enforcement Division has typically completed months of investigation. The staff reviews trading records, bank statements, email communications, and testimony from witnesses and cooperating individuals. The standard of proof in civil enforcement actions is preponderance of the evidence, which is lower than the beyond-a-reasonable-doubt threshold required in criminal prosecutions.
Key facts about the Kuzdas and Rowland case
| Case | SEC v. Brian Kuzdas and John Rowland |
| Litigation Release | LR-26593 |
| Filing Date | July 24, 2026 |
| Defendants | Brian Kuzdas; John Rowland |
| Case Type | Civil enforcement action |
The nature of the alleged misconduct
Securities fraud cases like the one against Kuzdas and Rowland typically involve misrepresentations or omissions of material facts that investors needed to make informed decisions. The SEC’s civil complaints in these matters often allege that defendants made false promises about investment returns, concealed the true risks of the products sold, or diverted investor funds for personal use rather than deploying them for the stated business purposes.
Broker-dealers and investment advisors are required under federal securities laws to deal fairly with clients and to disclose all material facts about recommended investments. When advisors breach this duty, investors may recover damages through FINRA arbitration or private civil actions. The SEC’s enforcement action serves both to punish wrongdoing and to deter similar conduct in the industry.
Warning signs for investors
Investors who worked with Brian Kuzdas or John Rowland should review their account statements carefully for unexplained fees, unauthorized trades, or positions that do not match the original investment proposal. Statements that show returns inconsistent with market conditions or that lack transparency about fees and commissions may signal misconduct.
All investors should verify the BrokerCheck profiles of any financial advisor they work with. BrokerCheck, maintained by FINRA, provides free public access to employment history, licensing information, and disciplinary records for registered brokers and their firms. A pattern of customer complaints, regulatory actions, or firm terminations should prompt investors to seek a second opinion about their holdings.
What affected investors can do now
Investors who believe they suffered losses due to the conduct described in the SEC complaint should gather their account records, correspondence with the advisors, and any marketing materials they received. Time limits apply to securities arbitration claims, and acting promptly protects an investor’s right to seek recovery through FINRA’s dispute resolution forum.
FINRA arbitration provides a private forum for investors to seek damages against brokers and brokerage firms. Unlike court litigation, arbitration proceedings are typically faster, less expensive, and conducted before a panel of industry and public arbitrators. Investors can recover compensatory damages, consequential damages, and in some cases punitive damages when the conduct is particularly egregious.
Haselkorn & Thibaut fights for investor recovery
Haselkorn & Thibaut is a securities law firm founded by former Wall Street defense attorneys who shifted their practice to represent investors. The firm has recovered over $520 million for clients in securities matters and maintains a 98 percent success rate in resolved cases. Attorneys are AV Preeminent rated through Martindale-Hubbell, designated as Super Lawyers, and hold a 5.0-star client review average. The firm operates on a contingency basis — no recovery, no fee.
Contact Haselkorn & Thibaut today
Time matters in securities fraud recovery cases. The earlier you act, the stronger your position. The firm offers a free case evaluation to assess your losses, review your account history, and explain your options under arbitration or settlement.
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