The Financial Industry Regulatory Authority (FINRA) finally has barred Beverly Hills stockbroker Bambi Holzer from working at a FINRA brokerage firm. In what appears to be the final chapter in Ms. Holzer’s checkered securities career FINRA barred Ms. Holzer in December 2013. FINRA found that Ms. Holzer had engaged in numerous forms of wrongdoing, including multiple unsuitable investment recommendations of risky and illiquid private placements, submitting false information about customers to her employing brokerage firm, and failing to make mandatory regulatory disclosures. Many of these abuses involved Los Angeles-area customers of brokerage firm Wedbush Securities.

Ms. Holzer has one of the worst records of customer abuses that we have ever seen. She had been the subject of more than 60 customer complaints involving millions of dollars, had been placed under special supervisory procedures by securities regulators, and had been suspended from the industry on more than one occasion. She appears to have had no concern about the legal and regulatory obligations that she owed to investors. She has caused enormous financial harm to many investors and it is about time that securities regulators kicked her out of the industry.

Dimond Kaplan & Rothstein, P.A. has represented a number of Ms. Holzer’s former customers and we have recovered more than $1 million for investors who used Ms. Holzer as their broker and who lost money as a result of her and Wedbush’s misconduct. Our Los Angeles FINRA arbitration lawyers continues to represent other customers of Wedbush and Ms. Holzer and expect to recover their investment losses.

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