FINRA Complaint Filed Against Miami Firm, DAKOTA SECURITIES INTERNATIONAL and Former Broker, Bruce Martin Zipper

The South Florida-based Soreide Law Group, obtained the following FINRA issued complaint from the January, 2018, Disciplinary Report. Issuance of a disciplinary complaint represents FINRA’s initiation of a formal proceeding in which findings as to the allegations in the complaint have not been made, and does not represent a decision as to any of the allegations contained in the complaint. Because these complaints are unadjudicated, you may wish to contact the respondents before drawing any conclusions regarding the allegations in the complaint.
Dakota Securities International, Inc. (CRD #132700, Miami, Florida) and
Bruce Martin Zipper (CRD #1019731, Miami, Florida)
Dakota Securities International and Bruce Martin Zipper were named respondents in a FINRA complaint alleging that while statutorily disqualified and suspended in all capacities, Zipper conducted a securities business, engaged in clerical and managerial activities on behalf of the firm, and continued to associate with the firm in violation of a suspension order he had entered into with FINRA.
The FINRA complaint alleges that Bruce Martin Zipper engaged in activities that required registration by soliciting the sale of securities, communicating with clients regarding securities and account holdings, providing account statements to clients, accessing the firm’s trading systems, and engaging in clerical and managerial functions on behalf of the firm, including emailing with firm vendors.
Also, the FINRA complaint alleges that Dakota Securities International was notified, in writing, of Zipper’s suspension; However, while he was suspended in all capacities, the firm allowed him to be associated with it in capacities inconsistent with the sanctions imposed by allowing him to perform the above mentioned functions.
The FINRA complaint further alleges that Dakota Securities International failed to establish and maintain a supervisory system reasonably designed to ensure regular review of electronic correspondence, and that individuals subject to a suspension were not acting in a capacity that required registration or otherwise acting in contravention of the suspension. During Zipper’s suspension period, there were numerous red flags suggesting that he was violating his suspension including, but not limited to, numerous emails sent by him using the firm’s email system and trades being placed through the firm’s trading system under his representative code.
The complaint also alleges that Zipper and another associated person of Dakota Securities International caused the falsification of the firm’s books and records by misidentifying the broker of record for hundreds of trades. As a result, Bruce Martin Zipper caused the firm to maintain inaccurate books and records, and Dakota Securities International maintained inaccurate books and records in willful violation of Section 17(a) of the Securities and Exchange Act of 1934 and Rule 17a-3.
(FINRA Case #2016047565702)
According to FINRA’s BrokerCheck, which is available to the public on FINRA’s website, Bruce Martin Zipper has 15 Disclosures on his report, dating back to 1988.  He has had 35 years of experience in the securities industry and was listed with 14 firms, the most recent listed below:
02/10/2005 - 10/02/2017  DAKOTA SECURITIES INTERNATIONAL, INC. - MIAMI, FL
If you’ve experienced losses due to the actions or recommendations of former DAKOTA SECURITIES INTERNATIONAL of Miami, broker Bruce Martin Zipper, contact the conveniently located South Florida-based, Soreide Law Group, to speak to a securities lawyer at no cost regarding the possible recovery of your losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationwide before FINRA.  We operate on a contingency fee basis—no fee if no recovery.  Let our experience work for you.