Former Austin Texas UBS and Oppenheimer Stockbroker Fined and Suspended
Zahir Walji of Austin, Texas submitted an Acceptance, Waiver and Consent (AWC) in which he was assessed a fine by the Department of Enforcement for the Financial Regulatory Authority (FINRA) and suspended from association with any FINRA member for a period of three months for allegedly failing to provide proper written notice about his outside business activities and failing to disclose two outside business activities. Walji has been associated with two FINRA member firms since entering the industry in 2006. From January 2006 through October 2012, Walji was associated with UBS Financial Services, Inc. (UBS). On October 12, 2012, UBS filed a Form U5 terminating Walji for “engaging in unapproved outside business activities and private securities transactions with firm clients”. Walji was a representative for Oppenheimer & Co. Inc. from October, 2012 until his termination in May, 2014.
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