Christopher Shaw, Ex-Newbridge Broker has 7 Customer Complaints
Former broker Christopher Shaw has reportedly been fined and suspended by FINRA for three months for allegedly making over $800,000 in unsuitable sales of high-risk GPB private placements to elderly clients, according to news reports.
Based in North Carolina, Shaw’s alleged sales included risky, concentrated investments in GPB Capital Holdings, a firm entangled in legal trouble with its president and CEO recently reportedly found guilty of fraud.
Shaw reportedly consented to FINRA’s findings without admitting or denying them, resulting in a $5,000 penalty, restitution of $16,357.60 to one client, and a suspension.
FINRA stated that Shaw’s clients were not accredited investors, making these investments allegedly unsuitable given their financial profiles. Shaw’s disciplinary record includes previous settlements totaling $450,000 and another suspension in 2022 for allegations of unauthorized discretionary trading. He reportedly voluntarily relinquished his securities registration in May 2023.
FINRA BrokerCheck – Christopher Shaw
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA, as well as to review their employment history, licensing status, and any regulatory actions or complaints filed against them.
Christopher Shaw (CRD #5011382) reportedly has 7 customer complaints on his record. Shaw was reportedly registered with the following brokerage firms during his career in the securities industry:
09/24/2020 – 05/30/2023 NEWBRIDGE SECURITIES CORPORATION (CRD#:104065) BELMONT, NC
05/15/2019 – 09/15/2020 PRUCO SECURITIES, LLC. (CRD#:5685) CHARLOTTE, NC
09/14/2011 – 05/09/2019 KALOS CAPITAL, INC. (CRD#:44337) Belmont, NC
Regulation Best Interest
Under the “Regulation best interest” standard, broker-dealers are obligated to perform due diligence when evaluating any investment. If your financial advisor fails to perform due diligence on an investment before recommending it to you, they could be held liable for investment losses.
If your advisor unsuitably recommended an investment offering and you lost money, the securities attorneys at The White Law Group may be able to file a complaint for you. You may be able to recover losses by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.
Free Consultation with National Securities Attorneys
If you have suffered investment losses with Christopher Shaw, the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
About the White Law Group
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.
With over 30 years of securities law experience, The White Law Group has the expertise to help investors to recover their securities fraud losses.
Last modified: October 29, 2024
