Zachary T. Bader, of Melville, New York, a stockbroker formerly registered with National Securities Corporation who is permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in all capacities, has been sanctioned by FINRA on June 21, 2017, based upon allegations of his failure to be in compliance with a FINRA Arbitration Award for FINRA Arbitration Case No. 15-02075 (Apr. 12, 2017).
According to the Award, Bader was found liable for committing common law securities fraud; violating the Securities Act of 1933; failing to supervise activities affecting the customer’s accounts; making misrepresentations; churning the customer’s assets; trading without the customer’s consent; effecting trades that were not suitable; and breaching his contractual and fiduciary duties to the customer in reference to a short-term day trading strategy involving exchange-traded funds. Bader was also found to have willfully defrauded the customers. Consequently, the customer was awarded $80,870.05 in compensatory damages and $81,000.00 in punitive damages.
FINRA Public Disclosure reveals that Bader has also been sanctioned by FINRA on May 23, 2017, for failing to comply with a FINRA Arbitration Award in FINRA Arbitration Case No. 15-00376 (July 25, 2016), where he was ordered to pay a customer $252,193.83 in compensatory damages based on findings of negligent misrepresentations and omissions, unjust enrichment, breach of contract, breach of fiduciary duty, unauthorized trading, churning, and unsuitability in reference to derivatives and penny stock transactions effected in the customer’s account.
Further, Bader was sanctioned by FINRA on June 8, 2017, for failing to comply with FINRA Arbitration Case No. 15-00096 (Mar. 28, 2017), where Bader was ordered to pay $76,267.13 in damages to a customer based upon allegations that Bader churned the customer’s account, negligently handled the customer’s investment portfolio, effected unsuitable and unauthorized investment transactions, and induced the customer’s transactions by making misrepresentations and omissions.
Bader’s registration with National Securities Corporation was terminated on August 19, 2014. Since March 28, 2011, he has been employed with three total broker dealers, two of which have been expelled by FINRA for federal securities law violations or are otherwise defunct.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
