Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that Broker/Investment Adviser, Christopher Edward Bond (CRD # 4658534) was recently suspended from the securities industry by FINRA’s Department of Enforcement after an investigation into using unauthorized discretion in customer accounts.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Bond.
Registration Background for Christopher Bond
Mr. Bond first became registered in the securities industry in 2004. He is currently registered with Melville, NY based National Securities Corporation (CRD # 7569). His prior registrations include Gunnallen Financial, Inc. (CRD # 17609) from June 2004 to December 2004, and Ehrenkrantz King Nussbaum, Inc. (CRD # 113525) from August 2003 to July 2004.
FINRA’s Allegations Against Christopher Bond
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated February 10, 2022 (No. 2020065532401), Mr. Bond consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “During the period July 2019 through August 2020, [Mr.] Bond exercised discretion on 288 occasions in four customers’ brokerage accounts”;
- “Although the customers gave [Mr.] Bond oral or implicit discretion to purchase or sell securities, none of the customers provided prior written authorization for Bond to exercise discretion in their accounts”;
- “National Securities Corporation did not accept any of the customer accounts as discretionary accounts, and in fact did not permit discretionary trading in non-advisory accounts during the relevant period”; and
- “On September 2, 2020, [Mr.] Bond stated on a firm compliance questionnaire that he had not engaged in discretionary trading during the period January 2019 through June 2020”; and
- By virtue of his actions, Mr. Bond violated FINRA Rule 3260(b) regarding discretionary accounts and FINRA Rule 2010, regarding standards of commercial honor and principles of trade.
FINRA Suspends Christopher Bond from Securities Industry
As a result of such violations and in addition to the above-described findings and conclusions, FINRA’s February 10, 2022 AWC also indicates that Mr. Bond consented to the following sanction(s):
- A 15 business-day suspension from association with any FINRA member in all capacities; and
- A fine in the amount of $5,000.00.
Christopher Bond Has A History of Securities Industry Customer Complaints
In addition to Christopher Bond being suspended by FINRA from the securities industry regarding unauthorized discretion, FINRA BrokerCheck for Mr. Bond reveals that he has a prior history of customer complaints and/or customer-initiated arbitrations including but not necessarily limited to the following:
- On February 5, 2020, a customer-initiated arbitration was commenced naming Mr. Bond as a respondent regarding alleged actions that occurred while he was associated with National Securities Corp. The customer alleged suitability regarding a private placement security. The customer further alleged damages in the amount of $250,000.00. On June 17, 2021, the arbitration was settled in the amount of $75,000.00.
- On September 22, 2016, a customer initiated a written complaint against Mr. Bond regarding alleged actions that occurred while he was associated with National Securities Corp. The customer alleged suitability regarding a security recommendation. The customer further alleged damages in the amount of $546,735.00. On March 3, 2018, the matter was closed without any further action.
If you or someone you know has or had a brokerage account with Christopher Edward Bond and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.