Bruce Martin Zipper (CRD#: 1019731) is a former FINRA broker. From 2005 to 2017, Mr. Zipper was the managing broker at Dakota Securities. According to FINRA records, Dakota Securities (CRD#: 132700) is a Miami, FL-based brokerage firm that was owned and controlled solely by Mr. Zipper.
On June 18th, 2018, FINRA expelled Bruce Zipper. Dakota Securities was also expelled from the industry. Here, our FINRA arbitration lawyers review the allegations against Bruce Martin Zipper and his brokerage firm Dakota Securities.
FINRA Sanctions: Bruce Martin Zipper of Dakota Securities
In 2016, Bruce Martin Zipper was sanctioned by FINRA for failing to put a proper record retention system into place at Dakota Securities. He consented to the penalties proposed by FINRA, which included paying a $10,000 fine and accepting a temporary suspension from the securities industry.
However, evidence was soon discovered that indicated that Mr. Martin was still actively working at the firm through the period during which he was supposed to be serving his suspension. This is a serious violation of industry rules. Not only did he violate the terms of his suspension, but FINRA determined that Dakota Securities falsified its records in order to conceal this misconduct.
As a result of its findings, FINRA has now expelled Bruce Martin Zipper and Dakota Securities from the industry. The decision was issued on June 18th, 2018, and it became effective immediately. This will be the final FINRA ruling in regards to this disciplinary proceeding.
Contact Our Securities Fraud Team Today
At Sonn Law Group, we are strong advocates for investors in South Florida and throughout the United States. If you sustained major losses, please do not hesitate to call our law firm today for a free initial consultation.
Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.