National investment loss lawyers KlaymanToskes is investigating suspended broker Zachary Taylor (CRD# 6074776) formerly of Oppenheimer & Co. and Saxony Securities.
According to FINRA BrokerCheck, broker Zachary Taylor has been suspended by the Financial Industry Regulatory Authority (“FINRA”) following allegations he willfully violated Rule 15/-1(a)(1) of the Securities Exchange Act of 1934 (Reg BI) by recommending that at least three senior customers with balanced allocation investment objectives and moderate risk tolerances invest in speculative options strategies.
Investors that suffered losses with broker Zachary Taylor are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Financial advisor Zachary Taylor formerly of Oppenheimer & Co. has been suspended from acting as a broker by FINRA. The findings stated that Taylor recommended that the customers sell puts, typically large numbers of puts in one underlying security at a time. As time passed, Taylor recommended that the customers sell more of these puts, putting at risk most of the principal value of their accounts. Taylor also began recommending increasingly risky puts, where the strike price was closer to the trading price.
Taylor’s recommendations were not in the customers’ best interest and were unsuitable for them based on their investment profiles. Taylor’s member firm has reportedly settled arbitrations with two of the customers for a total of $420,000. According to FINRA BrokerCheck, Taylor was previously registered as a broker with Oppenheimer & Co. in Newport Beach, CA from August 2020 to June 2023. Taylor was also previously registered with Saxony Securities from June 2023 to October 2023.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Zachary Taylor, or have concerns regarding your investment portfolio at Oppenheimer & Co., Saxony Securities, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.