Samir Collauku, of Edison, New Jersey, a stockbroker formerly registered with National Securities Corporation, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he failed to provide FINRA staff with information relating to his business activities. Letter No. 2014043784001 (Feb. 2, 2016).

FINRA Public Disclosure reveals that Collauku was also sanctioned by FINRA concerning his failure to report whether he complied with a customer initiated investment related settlement arrangement or arbitration award pertaining to allegations of his wrongdoing. Case No. 16-00276 (Apr. 24, 2017).

Particularly, on August 23, 2013, a customer initiated investment related written complaint involving Collauku’s conduct was settled for $40,000.00 in damages based upon allegations that Collauku, while associated with Wells Fargo Advisors, LLC, placed options transactions in the customer’s account despite lacking the customer’s authorization. Moreover, on August 30, 2017, a customer was awarded $98,155.45 in damages according to an investment related arbitration claim involving Collauku’s misconduct, wherein the customer’s claim was based upon allegations that Collauku effected unsuitable and unauthorized over-the-counter equities transactions in the customer’s investment account.

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