Written by The White Law Group• April 26, 2019• 5:55 pm• Current Investigations

Zachary Berkey | Broker Investigation

Zachary Berkey, Broker – Four Points Capital Partners

Have you suffered losses investing with Zachary Berkey in Melville, NY? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim against his employer.

According to a press announcement on April 25, the United States District Court for the Southern District of New York reportedly ordered former broker Zachary S. Berkey to pay $106,000 in disgorgement, plus prejudgment interest, and $71,000 in civil penalties.

On December 6, 2017, the SEC alleged that while working at Four Points Capital Partners LLC, Berkey purportedly conducted in-and-out trading that was allegedly almost certain to lose money for customers while yielding commissions for himself.

Berkey’s clients reportedly incurred significant costs with every transaction and the securities were held briefly; thus, the price of the securities allegedly had to rise significantly for customers to realize even a minimal profit, according to the SEC’s complaint.

The regulator further alleged that Berkey churned customer accounts and purportedly hid information from his customers.

Without admitting or denying the SEC’s allegations, Berkey had reportedly consented previously to a judgment permanently enjoining him from future violations of the antifraud provisions.

According to his FINRA BrokerCheck report, he was reportedly affiliated with Four Points Capital Partners in Melville, New York from April 2013 thru January 2015. From the report he appears to have 11 disclosures listed on his broker report including 5 customer complaints. Berkey was reportedly barred from working in the securities industry in October 2018.

Investigating Potential Claims

The White Law Group is investigating potential claims involving Berkey and the liability his former employers may have for failure to properly supervise him.

Under FINRA rules and regulations, Broker-Dealers are responsible for supervising the actions of those advisors registered with their firm, and therefore may be held liable for the actions of their Broker(s).

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, New York . Our attorneys have recovered millions of dollars from many brokerage firms in the past.