David Nathan Cohen Complaints & FINRA Bar (Cetera) 2026
FINRA barred former Cetera Investment Services broker David Nathan Cohen from the securities industry in all capacities, effective March 3, 2026, after he allegedly refused to appear for on-the-record testimony in an investigation into whether he converted or misappropriated customer funds. Cohen’s FINRA BrokerCheck record also discloses multiple customer complaints alleging misappropriation of funds. Investors who worked with Cohen and believe they lost money may want to speak with a FINRA arbitration attorney about their options.
Who Is David Nathan Cohen?
David Nathan Cohen (CRD #5083883) entered the securities industry in 2006. He was most recently registered with Cetera Investment Services LLC in Yonkers, New York, from June 2019 until his termination in December 2025. Cetera Investment Services is a broker-dealer affiliate of Cetera Advisors LLC under the Cetera Financial Group umbrella; see our review of Cetera Advisors for more on the firm’s broader regulatory history. Before that, he was registered with Foresters Financial Services, Inc. in New York from 2006 to 2019. According to his FINRA BrokerCheck report, Cohen also disclosed an outside business activity as a 95% owner of Ballparking Ventures LLC, described as a mobile app for locating and renting parking spaces.
Termination for Trading While Suspended
Cetera Investment Services discharged Cohen on December 9, 2025. According to the firm’s disclosure, Cohen was discharged for allegedly transacting business while under suspension and allegedly failing to cooperate with the firm’s internal review of allegations that client funds were purportedly paid directly to him and used to support his outside business.
FINRA Bar Over Refusal to Testify
FINRA’s disciplinary action against Cohen did not resolve the underlying misappropriation allegations. Instead, according to the regulator’s Acceptance, Waiver and Consent (AWC) letter, Cohen was barred because he allegedly refused to appear for on-the-record testimony that FINRA requested as part of its investigation into whether he converted or misappropriated customer funds, in alleged violation of FINRA Rules 8210 and 2010.
Without admitting or denying the findings, Cohen consented to the sanction. FINRA imposed a permanent bar from associating with any FINRA member firm in any capacity, effective March 3, 2026 (Docket/Case No. 2025088109801).
Customer Complaints and Disputes Against David Nathan Cohen
Cohen’s BrokerCheck report discloses four customer disputes, all involving allegations against Cetera Investment Services LLC:
One dispute alleged misappropriation of funds with $25,000 in claimed damages; it settled for $25,000. A second alleged that the proceeds of a liquidated annuity, which the client believed were going toward investment purchases, were instead allegedly paid directly to Cohen; the client claimed $250,550.19 in damages, and the dispute settled for $250,050.19. A third, filed as a FINRA arbitration, alleged misappropriation of funds involving listed equities with $500,000 in claimed damages; it settled for $499,500. A fourth dispute, filed in January 2026, alleges Cohen purportedly received wire transfers directly from a client as part of an alleged fraud, with an amended statement of claim seeking $500,000 in damages; that matter remains pending as of this writing.
Settlements of this kind are not findings of wrongdoing, and the pending dispute involves allegations that have not been proven.
Tax Liens
Cohen’s record also discloses three outstanding federal tax liens filed by the IRS: $232,470.15 (filed October 2023), $61,245.67 (filed December 2019), and $73,650.00 (filed June 2017), for a combined total of roughly $367,000.
What Investors Can Do
Investors who worked with David Nathan Cohen, or with Cetera Investment Services more broadly, and who suspect their funds were misappropriated or misused may be able to pursue recovery through FINRA arbitration. A FINRA arbitration attorney can help evaluate a potential claim.
Frequently Asked Questions
Was David Nathan Cohen barred for misappropriating client funds?
No. Cohen was barred after he allegedly refused to appear for on-the-record testimony that FINRA requested while investigating whether he converted or misappropriated customer funds. The underlying misappropriation allegations were not adjudicated as part of that bar.
Can David Nathan Cohen work as a broker again?
No. FINRA’s sanction is a permanent bar from associating with any FINRA member firm in any capacity, not a suspension. A suspension is time-limited; a bar is not.
What should I do if I invested through David Nathan Cohen or Cetera Investment Services?
Investors who believe they suffered losses connected to Cohen’s conduct may want to review their account statements and consult a securities attorney to discuss whether they have grounds to pursue a FINRA arbitration claim.
Has David Nathan Cohen been sued in a lawsuit?
As of this writing, public records show customer complaints and FINRA arbitration claims against Cohen, not a civil court lawsuit. Several of those complaints have settled; one remains pending.
The White Law Group is a national securities fraud law firm with offices in Chicago and Seattle representing investors in claims against brokers and brokerage firms. If you invested with David Nathan Cohen or Cetera Investment Services and have concerns about your account, contact The White Law Group for a free consultation at (888) 637-5510 or visit our contact page. You can also learn more about the FINRA arbitration process on our website.
