Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552, obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2013.”
Kapil Shashikant Shah aka Shah Shashikant Shah (CRD #4409290, Registered Principal, Jersey City, New, Jersey)
was barred from association with any FINRA member in any capacity. The sanction was based on findings that Shah failed to respond to a FINRA request for information and documents in connection with an investigation that Shah made unsuitable recommendations and misrepresentations to a customer. The findings stated that FINRA sought information about Shah’s relationship with the customer, the rationale for the transactions in the customer account, whether the customer authorized certain transactions and whether the customer gave Shah discretionary control over the account. Shah informed FINRA that he was not going to respond to the information request, and consistent with his expressed intent, has not provided the requested information.
(FINRA Case #2011027840902)
Shah Shashikant Shah, according to FINRA's BrokerCheck, was previously registered with FINRA at the following brokerage firms:
NEWPORT COAST SECURITIES, INC.
CRD# 16944
HICKSVILLE, NY
04/2008 - 08/2011
INVESTORS CAPITAL CORP.
CRD# 30613
JERSEY CITY, NJ
12/2007 - 04/2008
WUNDERLICH SECURITIES, INC.
CRD# 2543
MEMPHIS, TN
07/2007 - 11/2007
This ends the information obtained on FINRA’s website.
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