Satya Shaw—Outside Business Activities
Satya B. Shaw Allegedly Failed to Disclose Six Outside Business Activities to Center Street Securities, Inc.
Satya Shaw, of Wesley Chapel, Florida, allegedly failed to disclose six outside business activities to his employer and member firm Center Street Securities, Inc., according to a recent Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.
Investors who believe they may have lost money in activity related to Satya Shaw’s alleged participation in outside business activities are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.
The Peiffer Rosca Wolf securities lawyers are currently investigating Satya Shaw’s alleged participation in outside business activities.
Satya Shaw, from February 8, 2010 to November 18, 2016, allegedly engaged in business transactions on six occasions outside of Center Street Securities where he allegedly purportedly took in payments for expediting insurance and tax-based deals, according to the aforementioned AWC.
Shaw, a stockbroker formerly registered with Center Street Securities, also allegedly oversaw the rest of the companies organizes to facilitate real estate rental agreements, the AWC states.
What is more, Shaw also allegedly paid out unregistered individual fee payments in connection with securities transactions, the AWC notes. Shaw, between 2009 and 2016, also allegedly effected insurance policies while unregistered, the AWC reports.
Furthermore, between December 7, 2013 and October 5, 2016, an insurance agent, known only as SM, who was purportedly not registered with a broker-dealer, allegedly identified clients of his who sought diversification in securities and referred those clients to Shaw, the AWC notes. In return Shaw allegedly paid SM approximately $46,680 in securities transaction-based compensation, the AWC states.
Shaw Allegedly Failed to Disclose that He Was a Member of Six Limited Liability Companies; Shaw Fined 6 Months from Associating with a Member Firm in any Capacity and Fined $10,000 by FINRA
Shaw allegedly failed to disclose that he was a member of six limited liability companies, one of which purportedly received compensation in connection with the marketing of insurance and preparation of tax returns, according to the aforementioned AWC currently under review by attorneys Alan Rosca and James Booker.
Shaw, by virtue of the foregoing, allegedly violated NASD and FINRA Rules, and hence has been suspended for six months from associating with any member firm and has also been fined $10,000 by FINRA, the AWC states.
One should also note that, according to the AWC, Satya Shaw neither admitted nor denied the FINRA findings.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Satya Shaw’s alleged participation in outside business activities. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Satya Shaw’s alleged participation in outside business activities may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at email@example.com or firstname.lastname@example.org.