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Written by 2:33 pm Blog, Current Investigations

Satya Shaw (Satya Brata Shaw) Broker Investigation

Satya Shaw Broker Investigation, Featured by Top Securities Fraud Attorneys, The White Law Group

Financial Advisor Satya Shaw, Center Street Securities – Wesley Chapel, Florida

Are you concerned about investments you made with former financial advisor Satya Shaw in Wesley Chapel, FL? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to his broker report, Shaw has been under investigation by the Florida Office of Financial Regulation “For violations of state , federal and industry rules and regulations.” The Financial Industry Regulatory Authority (FINRA) reportedly suspended Shaw in 2017 because he allegedly engaged in six outside business activities without seeking prior approval from his member firm, Center Street Securities.

According to FINRA, Shaw failed to disclose that he was “a member of six limited liability companies, one of which received compensation in connection with the marketing of insurance and preparation of tax returns.”

FINRA alleges that Shaw held a management role in the remaining five companies, which were owned by his wife for the purpose of renting real estate. The findings also stated that “an insurance agent who was not registered with a broker-dealer, identified clients of his who sought diversification in securities and referred those clients to Shaw. In return, Shaw paid the insurance agent approximately $46,680 in securities transaction-based compensation.”

According to his FINRA BrokerCheck report, Shaw was registered with Center Street Securities in Wesley Chapel, FL from January 2010 until November 2016. His broker report also lists 9 regulatory events and four customer disputes.

There is one pending complaint reportedly filed against him in May 2019- Allegations include “losses and unsuitability—- 2013 2014 2015 and 2016,” and the damage amount requested is $2,000,000. Shaw is not currently registered as a broker.

Investigating Claims

The White Law Group is investigating potential claims regarding the liability that his former employers may have for failure to properly supervise Shaw’s alleged activities.

Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

When brokers abuse client accounts and conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

If you are concerned about your dealings with Satya Shaw, the securities fraud attorneys of The White Law Group may be able to help. For a free consultation with a securities attorney, please call 888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

For more information on The White Law Group, visit whitesecuritieslaw.com.



Tags: , , , , , , , Last modified: December 20, 2022