Kapil Shashikant Shah (CRD #4409290) was fined $10,000 by the Financial Industry Regulatory Authority (FINRA) in September and suspended from association with any FINRA member in any capacity for 20 business days.

Without admitting or denying the allegations, Shah consented to FINRA’s sanctions (FINRA Case No. 2006003684703), which related to a complaint alleging that he misrepresented or omitted material facts in conversations with customers. According to the complaint, Shah promised unrealistic returns on customers’ investments and made an improper price prediction concerning a stock to a customer.

Another interesting point about Shah is his employment record and, specifically, the brevity of his tenure at numerous brokerage firms. From 2002 to present, FINRA lists nine independent broker/dealers for which Shah has worked. The average time Shah remained employed with those firms is often less than a year. The firms include: GunnAllen Financial, Joseph Gunnar Financial, Clayton Dunning and Company, Chadbourn Securities, Brookstreet Securities, Wunderlich Securities, Continental Broker Dealer Corp., Investors Capital Corp., and Grant Bettingen.

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