Nathan Katz Barred After Allegedly Failing to Cooperate with FINRA Investigation
Nathan Katz (CRD #: 846475), a broker formerly registered with American Independent Securities Group, has been barred by FINRA, according to his BrokerCheck record, accessed on January 10, 2022.
This bar stems from allegations that he refused to provide documents and information requested by FINRA in connection with its investigation into his alleged recommendations of short-term switching of mutual funds, forgery of customer signatures on switch letters, use of discretion without authorization, and failure to timely disclose certain judgments and liens.
By refusing to produce the documents and information requested pursuant to FINRA Rule 8210, Nathan Katz violated FINRA Rules 8210 and 2010.
FINRA Rule 8210 requires that registered brokers supply FINRA staff with all information and documents requested in the course of an investigation. A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to "observe high standards of commercial honor and just and equitable principles of trade."
You can read a copy of the bar Acceptance, Waiver, and Consent agreement here.
As part of the terms of the AWC, Nathan Katz consented to a bar from associating with any FINRA member in all capacities.
- Executing Unauthorized Trades Allegations
On January 25, 2021, American Independent Securities Group fired Nathan Katz for allegedly exercising discretion in a client's account without written authorization.
A broker must always have the customer's written permission before exercising discretion. This is in accordance with FINRA Rule 3260(b). A broker executing unauthorized trades in a customer's account also violates FINRA Rule 2010, which requires associated persons to observe high standards of commercial honor and just and equitable principles of trade.
2. Irregular Signature on Customer’s Document
On August 20, 2018, Triad Advisors fired Nathan Katz after a signature irregularity was noted on a customer document which prompted an internal review.
Between 2011 and 2018, Nathan Katz was the subject of four tax liens amounting to approximately $491,688.23.
Nathan Katz has passed the following exams:
- Series 66 - Uniform Combined State Law Examination
- Series 63 - Uniform Securities Agent State Law Examination
- SIE - Securities Industry Essentials Examination
- Series 7 - General Securities Representative Examination
Nathan Katz has also worked with the following firms:
- UBS Painewebber (CRD#:8174)
- Dean Witter Reynolds (CRD#:7556)
- Elkins & Co. (CRD#:6789)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691)
- Merrill Lynch, Pierce, Fenner & Smith (CRD#:572)
Kurta Law Can Help
If you suffered losses after working with Nathan Katz, don't hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors 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.