FINRA

Respondent Zakarin failed to respond to FINRA request for information.

Letter

Bar (Permanent)

All capacities

Indefinite

3/2/2020

Pursuant to FINRA Rule 9552(h) and in accordance with FINRA's Notice of Suspension and Suspension from Association letters dated November 26, 2019 and December 20, 2019, respectively, on March 2, 2020, Zakarin is barred from association with any FINRA member in all capacities. Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in all capacities.

Claim alleges churning, unsuitability, fraud, breach of fiduciary duty, negligent supervision in connection with the RR's management of the accounts.

$125,000.00

Lombard Securities Incorporated

Permitted to Resign

Registered Representative's commission to assets ratios for certain customer accounts are above the firm's comfort level. In addition, the firm suspects that certain trades in two (2) customers' accounts were potentially unauthorized.

Bankruptcy

Bankruptcy

Dismissed

CLIENT ALLEGED THAT THE FINANCIAL ADVISOR PURCHASED POSITIONS WITHOUT AUTHORIZATION FROM MAY 24, 2013 TO DECEMBER 3, 2015.

$49,250.00

$3,719.53

WELLS FARGO ADVISORS, LLC.

Discharged

MR. ZAKARIN ASSISTED A CLIENT, WHO WAS PARTICIPATING IN AN IRS OFFSHORE VOLUNTARY DISCLOSURE PROGRAM, IN REPATRIATING FOREIGN CURRENCY. ON BEHALF OF THE CLIENT, MR ZAKARIN TRANSPORTED THE CURRENCY FROM SWITZERLAND TO THE UNITED STATES, WHILE THE CLIENT REMAINED IN EUROPE. MR. ZAKARIN DID NOT PROVIDE THE CLIENT'S SIGNED FINCEN 105 FORM TO THE BUREAU OF CUSTOMS AND BORDER PROTECTION AT THE TIME OF REENTRY INTO THE UNITED STATES.

CUSTOMER CLAIMS THAT SINCE JANUARY 1999, THEIR BROKER HAS MADE SPECULATIVE INVESTMENTS IN THE CUSTOMERS' ACCOUNT WITHOUT THEIR AUTHORIZATION OR CONSENT. ADDITIONALLY, CUSTOMER CLAIMS THAT BROKER MISMARKED TICKETS AS "UNSOLICITED" WHEN IN FACT THE TRADE WAS "SOLICITED."

$188,086.36

$20,000.00

UBS PAINEWEBBER AND THE BROKER DENY ALL ALLEGATIONS AND SETTLED THE MATTER TO AVOID THE COST AND UNCERTAINTIES ASSOCIATED WITH LITIGATION. THIS MATTER WAS SETTLED SOLEY AS A BUSINESS DECISION.

BREACH OF FIDUCIARY DUTY, MISREPRESENTATION, FRAUD ALLEGED DAMAGES: $13,000.00

$13,000.00

$5,031.00

AWARD RENDERED IN THE AMOUNT OF $5,031.00 AGAINST SHEARSON AND MR. ZACHARIN PLUS 10% INTEREST FROM 9/1/92. AWARD WAS RENDERED FOR BREACH OF FIDUCIARY DUTY AGAINST BOTH RESPONDENTS.

ALLEGED MISREPRESENTTION AND WRONGFUL PURCHASE OF THE WRONG ISSUE OF MAXICARE

$450,000.00

$2,000.00

Not Provided

UNSUITABILITY, UNATHORIZED TRADING ALLEGED DAMAGES - $43,000 PRODUCT - COLUMBIA LABS STOCK

$36,487.00

$17,977.00

AT A THREE SESSION HEARING, THE PANEL AWARDED $16,343 IN COMPENSATORY DAMAGES PLUS $1,634 IN INTEREST TO THE CLAIMANT. AGENT WILL CONTRIBUTE $10,000 TO THE AWARD-SHEARSON LEHMAN BROTHERS WILL PAY BALANCE. Not Provided