Our firm is investigating former Oppenheimer & Co., Inc. financial advisor Zachary Taylor (CRD# 6074776) of Newport Beach, California, for potential investment-related misconduct involving options trading and customer disputes.
Financial Advisor’s Career History
Zachary E. Taylor began his securities industry career in 2012. According to FINRA records, he was previously registered with Wells Fargo Advisors, LLC (2012), Merrill Lynch, Pierce, Fenner & Smith Incorporated (2013–2020), Oppenheimer & Co., Inc. (2020–2023), and Saxony Securities, Inc. (2023). He most recently worked in the Newport Beach, California area before his discharge from Oppenheimer & Co., Inc. in May 2023.
Zachary Taylor Fraud Allegations and Investor Complaints Explained
FINRA’s BrokerCheck report reflects multiple disclosure events involving Mr. Taylor, including regulatory action, customer complaints, and employment termination. These matters primarily relate to options trading strategies, alleged mismanagement, unauthorized trading, and suitability concerns.
FINRA Regulatory Action (Final)
In August 2025, FINRA sanctioned Taylor for willfully violating Regulation Best Interest (Exchange Act Rule 15l-1(a)(1)). FINRA found that while associated with Oppenheimer & Co., Inc., Taylor recommended speculative options strategies—specifically selling large volumes of put options—to at least three senior customers with moderate risk tolerances and balanced investment objectives. FINRA concluded the recommendations were unsuitable and not in the customers’ best interests. Two related customer arbitrations were settled by the firm for a combined $420,000. Taylor consented to a nine-month suspension without admitting or denying the findings.
Customer Disputes and Settlements
FINRA records disclose four customer disputes, all of which were settled:
- December 2023 complaint alleging account mismanagement during 2021–2023 (options and equities). Settled March 2024 for $50,000.
- January 2024 FINRA arbitration (Docket No. 24-00011) alleging breach of fiduciary duty, misrepresentation, and unauthorized trading from 2020–2023, with alleged damages of $426,000. Settled September 2024 for $170,000.
- September 2023 FINRA arbitration (Docket No. 23-02570) alleging fraud, misrepresentation, and unauthorized trading between 2021–2023, with alleged damages estimated between $100,000 and $500,000. Settled August 2024 for $85,000.
- April 2022 complaint (Docket No. 22-02299) alleging unsuitable investments, unauthorized trading, and over-concentration in ROKU stock and options. Alleged damages of $417,667; settled November 2023 for $250,000.
Employment Termination and Other Disclosures
Oppenheimer & Co., Inc. discharged Taylor in May 2023 after determining he could not provide sufficient documentation to support claimed trading authority in a client account. FINRA records also reflect a prior criminal matter from the early 1990s, a Chapter 7 bankruptcy filing in 2024, and an outstanding civil judgment/lien reported in 2024.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability)
FINRA Rule 2111 requires a broker to have a reasonable basis to believe that an investment recommendation is suitable for a customer based on the customer’s investment profile, including age, risk tolerance, and objectives. Allegations that senior or moderate-risk investors were placed into speculative options strategies may implicate this rule.
Regulation Best Interest (Reg BI)
Regulation Best Interest obligates brokers to act in the best interest of retail customers when making recommendations, without placing their own interests ahead of the client’s. FINRA’s regulatory findings against Taylor were based on violations of Reg BI related to unsuitable and high-risk options strategies.
FINRA Rule 3260 and unauthorized trading concerns arise because FINRA rules prohibit discretionary trading without proper written authorization. Customer allegations that trades were executed without authority or without adequate documentation can raise serious compliance and supervision issues under FINRA standards.
FINRA rules prohibit discretionary trading without proper written authorization. Customer allegations that trades were executed without authority or without adequate documentation can raise serious compliance and supervision issues under FINRA standards.
Losing your savings to a dishonest broker or advisor can be devastating, but you do not have to face it alone. Robert Wayne Pearce and his team have spent over four decades helping investors who were misled or defrauded by Wall Street firms. The Law Offices of Robert Wayne Pearce, P.A. takes cases nationwide on a contingency fee basis. You pay nothing unless we recover your losses. Call (800) 732-2889 or email pearce@rwpearce.com today for a free and confidential consultation.
