Franz Koch: Unauthorized Trading Complaint Against Wells Fargo Advisor

Boca Raton financial advisor Franz Koch (CRD# 4467954) allegedly made unauthorized transactions, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Wells Fargo Clearing Services.

Mr. Koch’s BrokerCheck report discloses one investor complaint. Filed in January 2024, it alleges that as a representative of Merrill Lynch, he made unauthorized trades. The pending complaint alleges unspecified damages.

FINRA rules prohibit brokers like Mr. Koch from making unauthorized trades. FINRA Rule 3260, for example, states that they cannot effect transactions at their own discretion unless they have first received authorization from the customer and their firm’s approval of the account for discretionary trading. FINRA Rule 2020 additionally stipulates that brokers may not “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Finally, FINRA Rule 2010 requires representatives to “observe high standards of commercial honor and just and equitable principles of trade.” Advisors who violate these rules may be held liable for damages.

Wells Fargo’s website includes a profile of Mr. Koch that describes him as a Senior Vice President at the firm. “Franz is committed to providing his clients with customized, goal-oriented financial solutions that are tailored to their unique needs and circumstances,” the profile states. “He believes his deep understanding of financial markets and his dedication to staying current on the latest trends and industry developments make him a trusted advisor for clients seeking guidance in navigating complex financial landscapes.”

According to the Financial Industry Regulatory Authority, Franz Koch holds 16 years of securities industry experience. Based in Boca Raton, Florida, he has been a broker and an investment advisor with Wells Fargo Clearing Services since 2022. His past registrations include Merrill Lynch (Boca Raton, Florida; 2010-2022) and National Securities Corporation (Fort Lauderdale, Florida; 2007-2010). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Alabama, California, Florida, Georgia, Kentucky, Maryland, Massachusetts, Michigan, Missouri, New York, North Carolina, and Tennessee. (Information current as of February 10, 2024.)

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