Broker Investigation: Bruce Zipper

Bruce Martin Zipper (CRD#: 1019731) is a former FINRA broker. From 2005 to 2017, Mr. Zipper was the managing broker at Dakota Securities. According to FINRA records, Dakota Securities (CRD#: 132700) is a Miami, FL-based brokerage firm that was owned and controlled solely by Mr. Zipper.

On June 18th, 2018, FINRA expelled Bruce Zipper. Dakota Securities was also expelled from the industry. Here, our FINRA arbitration lawyers review the allegations against Bruce Martin Zipper and his brokerage firm Dakota Securities.

FINRA Sanctions: Bruce Martin Zipper of Dakota Securities

In 2016, Bruce Martin Zipper was sanctioned by FINRA for failing to put a proper record retention system into place at Dakota Securities. He consented to the penalties proposed by FINRA, which included paying a $10,000 fine and accepting a temporary suspension from the securities industry.

However, evidence was soon discovered that indicated that Mr. Martin was still actively working at the firm through the period during which he was supposed to be serving his suspension. This is a serious violation of industry rules. Not only did he violate the terms of his suspension, but FINRA determined that Dakota Securities falsified its records in order to conceal this misconduct.

As a result of its findings, FINRA has now expelled Bruce Martin Zipper and Dakota Securities from the industry. The decision was issued on June 18th, 2018, and it became effective immediately. This will be the final FINRA ruling in regards to this disciplinary proceeding.

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