Broker Nathan Gersteen Katz of Belleair, Florida has accepted a ban from the securities industry by the Financial Industry Regulatory Authority (“FINRA”) because he failed to provide information and documents to FINRA in an investigation.
According to the Letter of Acceptance, Waiver and Consent (“AWC”) that Katz entered into with FINRA , Katz began in the securities industry in 1977 and became was employed by numerous FINRA member firms from September 1978 through March 2001. In June 2001, Katz was registered as a general securities representative with Triad Advisors LLC, but on Aug. 20, 2018, “Triad filed a Uniform Termination Notice for Securities Industry Registration (Form U5) stating that it terminated Katz’s association with the firm for ‘failure to follow firm policies and procedures, including those related to customer signatures,’” according to the AWC.
Katz subsequently registered as a rep with American Independent Securities Group, LLC (“AISG”) in October 2018, but on January 25, 2021, “AISG filed a Form U5 stating that it terminated Katz’s association with the firm for ‘[e]xercising discretion in a client’s account without written authorization and conduct inconsistent with AISG’s policies.’”
As detailed in the Nathan Gersteen Katz AWC:
“As a result of a sales practice examination, FINRA opened an investigation into Katz’s alleged recommendations of short-term switching of mutual funds, forgery of customer signatures on switch letters, use of discretion without authorization, and failure to timely disclose certain judgments and liens.”
“On May 17, 2021, in connection with the above-referenced investigation, FINRA sent a request to Katz for the production of information or documents pursuant to FINRA Rule 8210. As stated in his counsel’s email to FINRA on June 8, 2021, and by this agreement, Katz acknowledges that he received FINRA’s request and will not produce the information or documents requested at any time. By refusing to produce the information or documents as requested pursuant to FINRA Rule 8210, Katz violated FINRA Rules 8210 and 2010.”
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