Robert Brian Lefkowitz of Miami Florida is the chief executor officer of Dakota Securities International Inc. who has been fined five thousand dollars and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he enabled an individual subject of FINRA disqualification to make investment recommendations to the firm’s customers. Letter of Acceptance Waiver and Consent No. 2016047565701 (June 29 2017).
According to the AWC, the firm’s former chief compliance officer, chief executive officer and president, Bruce Martin Zipper, had been suspended from associating with any FINRA member in any capacity between May 31, 2016 and August 30, 2016. The AWC stated that throughout that period, Lefkowitz became the Lefkowitz’s chief compliance officer, chief executive officer and president.
Evidently, even though Bruce Martin Zipper was suspended, Lefkowitz knew that Zipper was continuing to engage in securities related business. Particularly, Zipper reportedly corresponded with the firm’s customers in reference to their securities accounts, discussed the customers’ account statements, and even made investment recommendations to Dakota Securities International customers. FINRA found that Lefkowitz’s conduct in that regard was violative of FINRA Rules 2010 and 8311, as well as FINRA By-Laws Article III, Section 3(b) and National Association of Securities Dealers (NASD) Rule 1031(a).
Bruce Martin Zipper has been referenced in eight regulatory infractions regarding allegations of his misconduct during the time that he was employed with Dakota Securities International Inc., Shochet Securities and Vanguard Securities, Inc.
FINRA Public Disclosure reveals that a customer initiated investment related civil action involving Lefkowitz’s conduct was settled for $35,000.00 in damages founded on accusations that unauthorized trades were effected in the customer’s account and the customer’s investment portfolio was churned.
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