[REDACTED] stated that a the annuity is for her beneficiaries and the income rider on the annuity is inappropriate. [REDACTED] wants to know if the income rider can be removed and the surrender period reduced.

FINRA

Without admitting or denying the findings, Katz 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.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

Indefinite

6/25/2021

Mismanagement of accounts and unprofessional behavior.

$450,000.00

American Independent Securities Group, LLC

Discharged

EXERCISING DISCRETION IN A CLIENT'S ACCOUNT WITHOUT WRITTEN AUTHORIZATION AND CONDUCT INCONSISTENT WITH AISG'S POLICIES.

Triad Advisors LLC

Discharged

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.

$99,264.94

Tax

$30,707.42

Tax

$311,524.87

Tax

$50,191.00

Tax

CLIENT VERBALLY ALLEGES UNAUTHORIZED TRADING BY HIS BROKER. DAMAGES UNSPECIFIED.

$23,636.09

THE CLIENTS ALLEGE: WITHOUT THE CONSENT AND AUTHORIZATION OF [CLIENTS]. MR. KATZ PROCEEDED TO BUY 3500 SHARES AT $16.00/SHARE, 1500 SHARES AT $16.00/SHARE OF KROLLA-GARA, AND ARBITRAGE STOCK. CLIENTS ALSO ALLEGE THAT HE PURCHASED 5000 SHARES AT $8.50/SHARE OF INTERDENT AND 300 SHARES AT $25.375 OF RUSS BERRY, AND THAT HE FAILED TO BUY THE ZEROS BACK AT THE TIME. THE CLIENT DEMANDS $90,000 IN COMPENSATION. THE TIME PERIOD SPECIFIED AS THE END OF CALENDAR YEAR 1999.

$90,000.00

$17,500.00

PAINE WEBBER

Discharged

EXERCISING DISCRETION IN A CLIENT'S ACCOUNT WITHOUT WRITTEN AUTHORIZATION AND CONDUCT INCONSISTENT WITH PAINE WEBBER'S POLICY REGARDING POSITION LIMITATIONS ON A SECURITY.

EXECUTED AN ORDER IN THE WIFES ACCOUNT WITH THE HUSBANDS PERMISSION, AND REALIZED AFTER THE FACT THAT I HAD NOT RECEIVED THE LETTER OF AUTHORIZATION FROM THE WIFE AS I HAD THOUGHT.

CLIENT ALLEGES INSIDER TRADING; THE USE OF A COLLAR STRATIGY THAT PROVENTED HIM FROM MAXIMIZING HIS PROFIT; TO ARBITRAGE STOCKS THAT DROPPED IN VALUE AND HIS BEING FORCED TO REMOVE HIS ACCOUNT FROM PAINE WEBBER. NONE OF THESE ALLIGATIONS ARE TRUE. CLIENT UPSET BY LOSSES.

$4,200,000.00

$275,000.00

CLIENT ALLEGES THAT FA PURCHASED SECURITIES WITHOUT HIS AUTHORIZATION, FAILED TO FOLLOW CLIENT'S INSTRUCTIONS AND MADE MISREPRESENTATIONS TO HIM WITH REGARD TO THE PURCHASE OF A BOND. DAMAGES UNSPECIFIED BUT ESTIMATED TO BE OVER $5,000.

$7,500.00