Options for Clients of Former American Independent Securities Group, LLC Broker Nathan Katz
Posted on Monday, October 4th, 2021 at 11:44 pm
Erez Law is currently investigating former American Independent Securities Group, LLC broker Nathan Katz (CRD# 846475) who faces a customer complaint for fixed annuities losses. Katz was registered with American Independent Securities Group, LLC in Largo, Florida from 2018 to 2021, when he was terminated regarding, “Exercising discretion in a client’s account without written authorization and conduct inconsistent with aisg’s policies.” Previously, Katz was registered with Triad Advisors LLC in Largo, Florida from 2001 to 2018, when he was terminated regarding, “A signature irregularity was noted on a customer document and prompted an internal review, which included an on site field audit and discussions with the Representative.”
In June 2021, FINRA barred Katz after he, “consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA in connection with its investigation into his 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.”
Katz has been the subject of five customer complaints between 2002 and 2021, according to his CRD report. The most recent complaint is regarding:
February 2021. “Mismanagement of accounts and unprofessional behavior.” The customer is seeking $450,000 in damages and the case is currently pending. The complaint was regarding fixed annuities and took place while Katz was registered with American Independent Securities Group, LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, American Independent Securities Group, LLC may be liable for investment or other losses suffered by Katz’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.