Zachary Hansen (also known as Zach Hansen) of Denver, Colorado, a stockbroker registered with UBS Financial Services Inc., has been fined $7,500.00 and suspended for 45 days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Hansen failed to retain private communications with customers concerning securities transactions. Letter of Acceptance, Waiver, and Consent No. 2020067908701 (August 11, 2022).
According to the AWC, between June 2018 and April 2020, without his firm’s approval, Hansen communicated with two customers via text message about securities-related business, including account performance, market events, and securities recommendations. UBS Financial Services Inc. policies required all communication with customers to be done through approved methods. On numerous occasions, Hansen communicated with firm customers through means not approved by the firm. Accordingly, Hansen violated FINRA Rules 2010 and 4511.
FINRA Public Disclosure shows that Hansen is referenced in two customer initiated investment related disputes concerning Hansen’s activities while associated with securities broker dealers, including UBS Financial Services Inc. On September 11, 2020, a customer initiated investment related complaint involving Hansen’s conduct was settled for $23,098.99 in damages based upon accusations that Hansen made unauthorized and unsuitable transactions in connection with the recommendation and sale of mutual funds when Hansen was associated with UBS Financial Services Inc.
On September 18, 2020, another customer initiated investment related complaint involving Hansen’s activities was settled for $42,500.00 in damages based upon allegations that Hansen made unauthorized mutual funds transactions during the time that Hansen was associated with UBS Financial Services Inc.
UBS Financial Services Inc. discharged Hansen based upon accusations that Hansen was selling away, using unapproved communication devices, and was the subject of customer complaints. Hansen was associated with UBS Financial Services Inc. from June 11, 2015, to September 11, 2020.