Zachary T. Bader (CRD #5902742, West Babylon, New York) recently ubmitted an AWC in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Bader consented to the sanction and to the entry of findings that he engaged in excessive and unsuitable trading in customer accounts, with a reckless disregard for the interests of those customers and in a manner that was inconsistent with the customers’ investment objectives, financial situations and needs. The findings stated that as a result, Bader willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The findings also stated that Bader made unsuitable recommendations of a complex exchange traded note (ETN) to customers without a reasonable basis to believe that the ETN was suitable for at least some investors. At the time Bader made these recommendations, he did not understand the mechanics of the ETN and had not conducted adequate due diligence to determine that it was suitable for at least some investors. Bader’s customers were charged a total of $31,453 in commission on trades in the ETN.
For the full FINRA findings, see FINRA Case #2013036387301.
According to Bader’s FINRA Broker Check, he was registered with National Securities Corp from 08/2013 – 08/2014 and Craig Scott Capital from 2/2012 – 08/2013.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. The firm represents investors throughout the country in FINRA arbitration claims against their brokerage firm.
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