Franz Lambert, Formerly of Spartan Capital, Suspended by FINRA

NEW YORK, NY

Are you a former client of Franz Lambert, formerly with Spartan Capital Securities in New York City, New York?  Our securities arbitration law firm is looking into allegations made by FINRA against Franz H. Lambert.  FINRA has suspended Lambert from the securities industry for five months and fined him $5,000.

From November 2016 to June 2019, Lambert allegedly excessively traded or churned a customer’s account.  The customer’s account had a turnover ratio of 15.1 (generally anything over 6 is considered excessive), and a cost-to-equity ratio of 67.63.  The cost-to-equity ratio means that the customer’s account would have needed to gain 67.63% just to break even from the costs of trading.

Franz Lambert held his securities license with Spartan Capital from December 2019 to October 2021.  Lambert had also previously been with Worden Capital Management.  Lambert worked in New York City offices.

FINRA Rule 2111 provides that advisors must make suitable investment recommendations.  That includes quantitative suitability, which essentially requires advisors to refrain from churning customer accounts.

Israels & Neuman is an investment fraud law firm that represents clients throughout the U.S., including investors in New York.  We also have previously represented over one thousand investors against dozens of securities brokerage firms around the country.

View Lambert, f BrokerCheck 7.14.22 (1)

If you lost money with Franz Lambert or Spartan Capital Securities, please Contact Us at 720-599-3505 or 206-795-5798 for a free evaluation of your case.