FINRA suspends Rahim Shah (CRD #6482164, Plano, Texas)
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As reported in InvestmentNews, three Raymond James entities have agreed to pay over $15 million to resolve an investigation by the SEC. The settlement and SEC order focused on Raymond James’s actions in improperly charging certain clients advisory fees when the...read more
March 23, 2018 – A Letter of Acceptance, Waiver and Consent (AWC) was issued in which Shah was assessed a deferred fine of $15,000 and suspended from association with any FINRA member in all capacities for seven months. Without admitting or denying the findings, Shah consented to the sanctions and to the entry of findings that he failed to disclose to his member firm that he had opened four outside brokerage accounts in which he had a financial interest. The findings stated that Shah placed trades in three of the outside accounts that involved securities that were on the firm’s restricted or “grey lists,” meaning that the trades required pre-clearance by the firm, or were prohibited outright by it. The findings also stated that Shah submitted an annual certification to the firm in which he falsely represented that he had only one outside brokerage account. Shah concealed the existence of his four other outside brokerage accounts. The suspension is in effect from April 2, 2018, through November 1, 2018. (FINRA Case #2016051945801). If you or someone you know has lost money investing with Rahim Shah, call the experienced attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-445-9261 now to speak to an attorney for free.