Silver Law Group is investigating Wesley Chapel, Florida-based Center Street Securities, Inc. (CRD# 26898) broker Satya Brata Shaw (CRD# 1229175) after the Florida Office of Financial Regulation opened an investigation into the broker. Our firm is interested in speaking with you if you have worked with Shaw.
In November 2016, the Florida Office of Financial Regulation initiated an investigation into Shaw for violations of state, federal and industry rules and regulations, according to Shaw’s FINRA BrokerCheck report.
The investigation follows a string of settlements between other state regulatory bodies between 2009 and 2016. In total, Shaw has been fined or sanctioned by six different states in a total of seven regulatory actions, according to his BrokerCheck report.
Shaw’s first regulatory run-in was with the Florida Department of Insurance in 2000 when the department alleged Shaw “offered an unlawful inducement to a person to encourage them to purchase life insurance.” Then in 2009, the State of South Carolina Department of Insurance fined Shaw after alleging Shaw failed to renew his insurance license on a timely basis and inadvertently wrote insurance policies for residents of South Carolina before renewal.
Four more regulatory actions were taken against Shaw, according to his BrokerCheck report, and all concerned Shaw’s failure to notify the state of the administrative action taken by South Carolina in 2009. California, Utah and Virginia revoked Shaw’s license to sell insurance products while North Carolina only fined Shaw.
Shaw has worked for Center Street Securities since 2010. A FINRA arbitration filed against him in April 2016 settled for over $21,000.
If you have invested with Satya Brata Shaw and Center Street Securities and have lost money doing so, you may be able to recover some or all of your losses. Our lawyers are experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975