Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor, Shahab TagnaviDinani (CRD # 2503652) was recently suspended from the securities industry by FINRA’s Department of Enforcement after an investigation into unauthorized trading.

The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. TagnaviDinani.

Registration Background for Shahab TagnaviDinani

Mr. TagnaviDinani first became registered in the securities industry in 1994. He is currently registered with Denver, CO based Sovereign Global Advisors LLC. (CRD # 167663). His prior registrations include Park Avenue Securities LLC (CRD # 46173) from February 2014 to January 2022, Union Capital Company (CRD # 110301) from May 2007 to June 2013 and The (Wilson) Williams Financial Group (CRD # 22704) from January 2005 to December 2005.

Shahab TagnaviDinani Suspended by FINRA from Securities Industry for Unauthorized Trading (1)FINRA’s Allegations Against Shahab TagnaviDinani

According to the FINRA Letter of Acceptance, Waiver and Consent (AWC) dated May 2, 2023 (No. 2022073991601), Mr. TagnaviDinani consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:

  • Between January and November 2021, [Mr.] TagnaviDinani placed 48 unauthorized trades in a deceased customer’s account in violation of FINRA Rule 2010”;
  • Customer A maintained a non-discretionary account at Park Avenue Securities, with [Mr.] TagnaviDinani as her registered representative”;
  • Customer A was the only person with authority to authorize transactions in the account”;
  • Customer A died on January 17, 2021, which [Mr.] TagnaviDinani learned the following day”;
  • Between Customer A’s death in January 2021 and November 2021, [Mr.] TagnaviDinani placed 48 unauthorized buy and sell orders in the account”;
  • [Mr.] TagnaviDinani discussed several of the trades with surviving members of Customer A’s family, but those individuals did not have trading authorization over the account”; and
  • By virtue of his actions, Mr. TagnaviDinani violated FINRA Rule 2010 regarding standards of commercial honor and principles of trade.

FINRA Suspends Shahab TagnaviDinani from Securities Industry

As a result of such violation and in addition to the above-described findings and conclusions, FINRA’s May 2, 2023 AWC also indicates that Mr. TagnaviDinani consented to the following sanction(s):

  • A 45-calendar-day suspension from association with any FINRA member in all capacities;
  • A fine in the amount of $5,000.00; and
  • Restitution in the amount of $1,987.77 plus interest.

Shahab TagnaviDinani Has No Prior History of Securities Industry Customer Complaints

In addition to Mr. TagnaviDinani being suspended by FINRA from the securities industry regarding unauthorized trading, FINRA BrokerCheck for Mr. TagnaviDinani reveals that he has no prior history of customer complaints and/or customer-initiated arbitrations.

Have You Lost Money with Shahab TagnaviDinani?

If you or someone you know has or had a brokerage account with Mr. Shahab TagnaviDinani and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.