Zahir Walji—Undisclosed Outside Business Activities

stockbroker misconduct attorneysZahir Walji Allegedly Engaged in Two Outside Activities, a Grocery Market and Convenience Store, Undisclosed to UBS

Zahir Walji, from April 2011 through October 2012, and while associated with UBS, took part in two outside business activities and participated in six private securities transactions without providing prior written notice from UBS, according to a FINRA Letter of Acceptance, Waiver and Consent (AWC).

In addition, the AWC further notes, Walji did not comply with the restrictions that UBS placed on him as conditions for approving the outside business activities.

From April 2011 through October 2012 Walji was an officer of SCM, LLC which ran an upscale grocery market from which Walji had a reasonable expectation of receiving compensation, the AWC notes. In addition, Walji was also a partner in LOI, LP which ran a convenience store from which Walji had a reasonable expectation of receiving compensation, according to the AWC.

Walji Suspended Three Months from Associating with any FINRA Member in any Capacity and Fined $7,500

Walji did provide notice to UBS of two additional outside business activities, but he did not comply with the restrictions that UBS placed on him as conditions for approving the outside business activities, the AWC notes.

As a result of the aforementioned actions, Walji violated NASD and FINRA Rules, according to the AWC. Hence, Walji will be suspended for three months from associating with any FINRA member in any capacity and fined $7,500, the AWC notes.

The Peiffer Rosca Wolf Investor Rights Lawyers Often Represent Investors

The Peiffer Rosca Wolf investor rights lawyers often represent investors who lose money as a result of broker misconduct. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of broker misconduct may contact the investor rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1225 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.