Bambi Iris Holzer, Registered Representative, West Hollywood, California was barred from association with any FINRA member in all capacities.

DISCIPLINARY ACTION

Bambi Iris Holzer (CRD #1088028, Registered Representative, West Hollywood, California) was named a respondent in a FINRA complaint alleging that she made unsuitable recommendations to customers to invest in the offering of private placement securities without having a reasonable basis to believe that the security was suitable for the customers in light of their financial needs and situation. The complaint alleges that the speculative and illiquid investment was unsuitable in light of the customers’ need for liquidity, income and safety of principal. Holzer’s recommendations exposed the customers to an undue risk of loss of principal and income, and unduly concentrated their assets in speculative and illiquid securities. The complaint also alleges that Holzer submitted or caused to be submitted to her member firm disclosure documents for customers that Holzer knew or should have known reflected false information concerning the customers’ net worth and investment objectives, upon which the firm would rely in reviewing the proposed transactions. The complaint further alleges that the California Department of Insurance (DOI) initiated a regulatory action and issued an accusation in a matter against Holzer. Holzer received the related documents. In addition, the DOI served Holzer with first-amended and second-amended accusations. The DOI action, including the accusation and the amended accusations, comprised material information that Holzer willfully failed to disclose on her Form U4 at any time during her association with the firm. Holzer failed to disclose this material information on her initial Form U4 submitted to another member firm, and failed to disclose it in a timely manner on a Form U4 while registered with this firm. Furthermore, a customer’s investment-related arbitration award and judgment against Holzer comprised material information that Holzer willfully failed to disclose in a timely manner on a Form U4 while registered with this second firm. In addition, the complaint alleges that Holzer provided false testimony during on-the-record interviews. The testimony was false because Holzer had failed to disclose the DOI action to her firm. Holzer further failed to disclose the DOI action to another firm at or about the time she was hired or in a timely manner upon receiving the amended accusations.

On December 19, 2013, FINRA entered an Order Accepting Offer of Settlement barring Holzer from association with any member in all capacities. (FINRA Case #2010021778101)