Sharon Melinda Kwan — Alleged Undisclosed Outside Business Activities

investment fraud attorney ClevelandSharon Melinda Kwan Allegedly Engaged in Undisclosed Outside Business Activities; Kwan’s Alleged Real Estate Activities Purportedly Involved Two National Planning Corporation Customers and Purportedly Lacked Proper Prior Written Notice to National Planning Corporation

Sharon Melinda Kwan allegedly engaged in undisclosed outside business activities involving real estate activities with two firm customers (purported personal friends of Kwan) without providing prior written notice to National Planning Corporation, according to a recent Letter of Acceptance, Waiver, and Consent (AWC) presently being reviewed by attorneys Alan Rosca and James Booker.

Investors who believe they may have lost money in activity related to Sharon Melinda Kwan’s alleged 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 Sharon Melinda Kwan’s alleged outside business activities.

Kwan and two customers, from April of 2009 to April of 2013, allegedly engaged in real estate ventures without Kwan informing National Planning Corporation beforehand, and Kwan’s apparent  involvement in said transactions was not made known to National Planning until April of 2013, according to the aforementioned AWC.

Kwan, of Arcadia, California, allegedly falsely represented her outside business activities, prior to April of 2013, on compliance questionnaires administered to her by the firm, the AWC notes.

Sharon Melinda Kwan Suspended and Fined $15,000 by FINRA for Allegedly Failing to Observe High Standards of Commercial Honor and Just and Equitable Principles of Trade Related to Real Estate Ventures

Sharon Melinda Kwan, between June 2009 and February 2013, allegedly made undisclosed customer deposits of almost $1.4 million into the two accounts of which NPC did not approve, according to the aforementioned AWC currently being reviewed by attorneys Alan Rosca and James Booker.

Kwan allegedly held joint bank accounts with her firm customer and Kwan also allegedly provided inaccurate annual firm compliance attestations regarding her joint bank accounts with said customer between 2009 and 2012, the AWC notes.

Kwan, as a result of the aforementioned behavior, allegedly did not observe high standards of commercial honor and just and equitable principles of trade, and hence violated FINRA Rules and therefore has been fined $15,000 and suspended by FINRA, the AWC reports.

Finally, one should also note that, according to the AWC, Sharon Melinda Kwan, 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-related fraud or misconduct and are currently investigating Sharon Melinda Kwan’s alleged 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 Sharon Melinda Kwan’s alleged 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 arosca@prwlegal.com or jbooker@prwlegal.com.

Alan Rosca (1225 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.