Travis Shannon Suspended for Failing to Disclose to Employer Morgan Stanley Sales of Unauthorized Investments

Ohio stockbroker fraud attorneyTravis S. Shannon, of Santa Barbara, California, was recently suspended by FINRA (the Financial Industry Regulatory Authority) for two years for his activity with firms which he failed to divulge to his employer, Morgan Stanley Smith Barney, where he was employed as a financial advisor from September 2008 to July 2013.

Travis Shannon Sold Several Investments in Three Companies: AAI, Z, and TC

At various times from 2010 until 2013, Shannon participated in private sales of $1,885,000 worth of securities, including securities issued by his two outside business activities. Travis Shannon solicited his customers to invest in AAI (Aerobat Aviation, Inc.), a company in which he Board Chairman and one of its executive officers, which developed unmanned aerial vehicles, or drones, a FINRA Acceptance, Waiver and Consent (AWC) alleges. Shannon also solicited investors to invest in Z, which operated a social commerce platform for the fashion industry, and TC, which bought and sold used computer network equipment, the FINRA AWC reports. Travis Shannon failed to notify these sales to his employer, Morgan Stanley Smith Barney, and violation of FINRA rules.

Travis Shannon Filed for Bankruptcy, Fined, and Suspended

Shannon also filed for bankruptcy on January 30, 2012, July 7, 2012, and October 16, 2012; many of the requisite forms were filed late. FINRA fined Travis Shannon $25,000, suspended Travis Shannon two years from the securities industry, and required him to disgorge $138,000 in commissions of the aforementioned securities, the FINRA alleges.

Investment Fraud Lawyers Investigating

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Broker: Travis S. Shannon

Status: INVESTIGATED by Peiffer Rosca.

For brokercheck report and additional info click here!

Alan Rosca (1180 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.