Victim of Financial Fraud? Call Now

Investor Alleges Nader Tamadon Executed Unauthorized Transactions

Dec 19, 2022 Unauthorized Trading

Nader Tamadon (CRD #: 4627899), a broker registered with Merrill Lynch, Pierce, Fenner & vc Smith, was recently involved in an investor dispute, according to his BrokerCheck record, accessed on December 6, 2022. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On September 20, 2022, an investor alleged that Nader Tamadon executed unauthorized transactions and an unsuitable investment strategy, and failed to act in the client’s best interest from August 2020 to September 2022. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an external review. Investors may be able to recover their funds by seeking out FINRA arbitration after a denial.

FINRA Rule 3260

FINRA Rule 3260 forbids brokers from executing discretionary trades outside accounts approved in advance by their client and firm.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. An investor’s profile describes their tax status, financial goals, risk tolerance, and other information. 

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information

Nader Tamadon has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 9 – General Securities Sales Supervisor – Options Module Examination
  • Series 10 – General Securities Sales Supervisor – General Module Examination

Nader Tamadon is a registered broker in 27 states and the District of Columbia. He is also a registered investment adviser in Texas and Virginia.

He has also worked for Morgan Stanley Smith Barney (CRD#:149777).

Kurta Law Can Help

If you worked with Nader Tamadon and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.