Christopher Edward Bond, of Melville, New York, a stockbroker currently registered with National Securities Corporation, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he engaged in unauthorized trading in National Securities Corporation customer accounts. Letter of Acceptance, Waiver, and Consent No. 2020065532401 (February 10, 2022).
According to the AWC, between July of 2019 and August of 2020, Bond executed 288 unauthorized trades. Using discretion, Bond engaged in unauthorized trading in the brokerage accounts belonging to four customers. Those customers never provided written authorization to Bond for this. National Securities Corporation also did not approve those accounts for Bond’s discretionary trading. The AWC states that discretionary trading was prohibited in non-advisory accounts during the 2019- 2020 period.
FINRA states that Bond inaccurately stated in a compliance questionnaire that he made no discretionary trades between January of 2019 and June of 2020.
Bond violated FINRA Rule 2010 and 3260(b).
FINRA Public Disclosure shows that Bond has been identified in two customer initiated investment related disputes concerning allegations of his harmful activities when he was employed by National Securities Corp. Bond is the subject of a customer initiated investment related written complaint on September 22, 2016, where the customer sought $546,735.00 in damages supported by accusations that unsuitable recommendations were made by Bond while he was registered with National Securities Corp. The complaint alleges damages on unsuitable trading of over-the-counter equities.
On June 17, 2021, another customer initiated investment related arbitration claim involving Bond’s conduct was settled for $75,000.00 in damages founded on allegations of Bond effecting unsuitable private placement transactions in the customer’s National Securities Corp account.
Bond has been employed by National Securities Corporation as a stockbroker since December 2, 2004, and associated with National Asset Management Inc. as a financial advisor since October 3, 2018.
