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$546K Annuity Complaint Against Largo Rep Nathan Katz
Former Largo, Florida stockbroker Nathan Katz (CRD# 846475) was recently barred by the Financial Industry Regulatory Authority, which was investigating allegations he forged customers signatures and used unauthorized discretion. FINRA records also list customer disputes involving Katz, who was previously registered with American Independent Securities Group.
Nathan Katz’s BrokerCheck report discloses one pending customer dispute against him and four disputes that resolved with settlements. It also discloses his 2018 termination from Triad Advisors over a “signature irregularity… on a customer document” that led to an internal review; his 2021 termination from American Independent Securities Group over allegations he exercised discretion in a customer account without written authorization; and the 2021 FINRA action finding that he refused to produce documents information in accordance a FINRA request for such during its investigation into allegations he recommended short-term mutual fund switches, forged customer signatures on mutual switch letters, used unauthorized discretion, and failed to “timely disclose certain judgments and liens.”
Four customer disputes involving Nathan Katz were filed between 2001 and 2002. Filed by customers of UBS Painewebber, their allegations include unauthorized trading, misrepresentation, fraud, negligence, breach of fiduciary duty, and failure to follow instructions. The complaints settled for a total of more than $75,000.
A pending complaint A pending complaint against Nathan Katz was filed in 2021 by a customer of American Independent Securities Group. It alleged that the income rider on a fixed annuity product was “inappropriate.” The pending complaint alleges damages of $546,000.
According to the Financial Industry Regulatory Authority, Nathan Katz holds 42 years of securities industry experience. He is not currently registered as a broker or as an investment adviser, and has been barred by FINRA from acting as a broker. His registration history includes American Independent Securities Group (Largo, Florida), Triad Advisors (Largo, Florida), UBS Painewebber (Weehawken, New Jersey), Dean Witter Reynolds, Elkins & Company, and Merrill Lynch. He has passed the Uniform Combined State Law Examination, the Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, and the General Securities Representative Examination. (Information current as of November 15, 2021.)
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