Franz Helmut Lambert (CRD #4463792, Forest Hills, New York)

July 13, 2022 – An AWC was issued in which Franz Helmut Lambert (CRD #4463792) was suspended from association with any FINRA member in all capacities for five (5) months. He was also assessed a deferred fine of $5,000. Without admission or denial of the findings, Lambert consented to the sanction, as well as the entry of findings that he had engaged in excessive and quantitatively unsuitable trading into a senior customer's account. The findings state that Lambert recommended high-frequency trading in the account and that the customer routinely followed these recommendations. As a result, Lambert exercised de facto control over this customer's account. Lambert's trading in this particular account generated total trading costs of $308,983. This included $289,660 in commissions. In total, this caused $320,906 in realized losses. The customer brought an arbitration claim against Lambert, which was settled. The customer also won an arbitration award against the firm relating to the account at issue. Lambert's suspension is in effect from July 18, 2022 through December 17, 2022. (FINRA Case #2019060753504)