Ameritas Investment Broker Nathan Silva Permanently Barred by FINRA

Prior to the regulatory action, Ameritas Investment discharged Silva for violating firm policy

After seven years in the securities industry, Omaha, Nebraska broker Nathan Silva has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The Financial Regulatory Authority (FINRA) report on Silva’s actions indicates that he spent his entire career with Ameritas Investment Corporation.

According to his FINRA BrokerCheck report, Silva was discharged from Ameritas Investment in November of 2014 for violating firm policy. The allegations against him from his former employer include commingling of client funds, participating in non-approved, outside business activities, and using a non-approved method of communication (texting) all of which are violations of firm policies.

Following Silva’s separation from the firm, a customer dispute alleging misrepresentation, churning, and commission gouging was filed against Silva requesting damages of approximately $60,000. During its investigation into the dispute, FINRA requested that Silva provide on-the-record testimony regarding the allegations. Silva refused to appear, and as a result, the regulatory authority permanently barred him. A settlement was reached in the amount of $63,935.66.

Since the FINRA decision to bar Silva, an additional customer dispute was filed against the broker, this one alleging that there were inconsistencies with the client’s signature that appear not to be the client’s, and that an insurance plan was not structured according to the client’s wishes. Requested damages of almost $45,000 are still pending a FINRA decision.

Silver Law Group specialises in fighting for clients who have lost investments at the hands of dishonest brokers and financial advisers who have taken advantage of their positions. Scott Silver is the current chair of the American Trial Lawyers Association Securities and Financial Fraud Group, and our expert legal team has been representing clients in securities law arbitration cases and targets of investment fraud to help them recover lost funds and get a sense of justice.

We operate on a contingency fee basis, so our team does not profit unless we recover your funds. Contact us today at 1-800-975-4345 or fill out our contact form to explore your situation and see if you are eligible to take action.