Broker Brendan Shaw Allegedly Made Excessive, Unsuitable Trades

Investor Alert! FINRA reports alarming information about Brendan Patrick Shaw [CRD#: 4721215, Scottsdale, Arizona]. Namely, Washington Securities Division sanctioned Shaw–a securities broker for Purshe Kaplan Sterling Investments (“PKS”) who also associated with Thomson Financial Advisors. Not only that, but at least 3 clients brought disputes about him. In sum, these disclosures suggest that Shaw violated Washington securities laws and that he may have made unsuitable and deceptive trades causing losses to his clients. Here’s more:

Washington Securities Division Bars Brendan Shaw For Excessive Trading

Evidently, on April 11, 2019, Washington Securities Division sanctioned Thompson Financial Advisors and Brendan Shaw for unsuitable sales practices. This included a permanent bar and $60,000 fine, $20,000 of which Shaw was personally responsible for paying. Notably, the Securities Division alleged that he unlawfully and unsuitably traded options. Moreover, Shaw allegedly did not disclose that his options trading strategy was very risky and speculative.

Shaw Allegedly Makes Excessive Trades Causing Losses To PKS Client

Apparently, a client of PKS contested Brendan Shaw’s actions by bringing a FINRA Arbitration Claim on February 15, 2019. Allegedly, Shaw excessively traded in the client’s account. Allegedly, the securities broker also engaged in deceptive trading activities which harmed the client. For this reason, the client demanded compensatory relief from PKS or Shaw in this ongoing matter.

PKS Client Indicates That Brendan Shaw’s Trading Was Deceptive

Evidently, on June 26, 2017, a PKS client filed a FINRA Arbitration Claim about Brendan Shaw. Notably, the client asserted that Shaw engaged in dishonest and shady trading in the client’s TD Ameritrade account. Supposedly, this client maintained accounts with Shaw at Thomson Financial Advisors, who purportedly managed the TD Ameritrade account. As a result, the client demanded $7,500,000 from PKS or Shaw. Apparently, this arbitration is pending a resolution.

Shaw Allegedly Churns Account Of PKS Client

Apparently, a client of PKS contested Brendan Shaw according to a FINRA Arbitration Claim dated January 26, 2017. Namely, Shaw allegedly churned the client’s investment account and his trading was unsuitable. It seems that the securities broker mainly traded to generate commissions. The client also indicated that Shaw used manipulative and deceptive actions to get the client to open a line of credit. Allegedly, PKS improperly supervised Shaw too. For this reason, the client demanded $1,109,814.14 in compensation from PKS or Shaw in this ongoing matter.

Losses From Brendan Shaw?

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