FINRA Issues Sanctions To Zach Hansen

The Financial Industry Regulatory Authority (FINRA) reports important information about securities broker Zach Hansen (also known as Zachary Hansen) (CRD:  5553180, Denver, CO). Not only has FINRA sanctioned Hansen for False Records Or Books, but investors disputed the sales practices of the securities broker. However, Hansen denies the allegations. Read on to learn more about the allegations against Hansen.

FINRA Issues Sanctions To Zach Hansen For False Records Or Books

Evidently, on August 11, 2022, FINRA issued Case: 2020067908701 sanctioning Zach Hansen for infractions. Specifically, Hansen received a 45-day suspension as a securities broker and a fine of $7,500. Notably, FINRA claims that Hansen caused the securities firm to maintain false records or books.

Mainly, FINRA indicates that between June 2018 and April 2020, during the time that he was associated with UBS Financial, Hansen, without permission or approval from his firm, corresponded with two firm clients concerning securities-related business via text messages. UBS’s employee written supervisory procedures and policies indicated that electronic business communications could only be sent through systems approved by the firm. This policy was in place to ensure that such communications would be preserved. Supposedly, Hansen sent numerous text messages about firm business to two clients using his personal cell phone. As a result, Hansen violated FINRA Rules 2010 and 4511.

Hansen Discloses Unauthorized Trading Allegations By UBS Financial Services Inc. Client

Also, a client of UBS Financial Services Inc. contested Zach Hansen’s sales practices, according to a complaint. Allegedly, Hansen engaged in unauthorized trading. Supposedly, Hansen caused the client to sustain damages by investing in mutual funds. Therefore, UBS Financial Services Inc. opted to settle the matter on September 18, 2020, by compensating the client in the amount of $42,500.

UBS Financial Services Inc. Investor Accuses Zach Hansen Of Unauthorized Trading

Additionally, a UBS Financial Services Inc. client filed a complaint about Zach Hansen. Namely, the client alleged that Hansen engaged in unauthorized trading and made unsuitable recommendations. Because of this, the client allegedly sustained damages by investing in mutual funds. Therefore, on September 11, 2020, UBS Financial Services Inc. settled this matter by paying the client $23,098.99 in damages.

Hansen Discharged For Private Securities Transactions

Additionally, UBS Financial Services Inc. disaffiliated with Hansen on August 12, 2020. Allegedly, Hansen engaged in private securities transactions, was the subject of a client complaint, and engaged in an undisclosed outside business activity.

Zach Hansen Employment Information

Zach Hansen worked for UBS Financial Services Inc. in Denver, CO, as a securities broker from June of 2015 to September of 2020.

Did UBS Financial Services Inc. Securities Broker Hansen Cause You To Experience Damages?

Did you experience damages because of Zach Hansen? If so, get in touch with Soreide Law Group at (888) 760-6552 and talk with a securities attorney about a possible recovery of your investment losses. Soreide Law Group, who has effectively recovered money for hundreds of investors in the United States, can review your situation and explain your legal options. Also, the firm represents clients on a contingency fee basis and advances all costs. Hansen and brokerage firms Hansen worked for deny any and all allegations of sales practice violations.