Brendan Patrick Shaw of Scottsdale Arizona a stockbroker associated with Purshe Kaplan Sterling Investments and Thomson Financial Advisors LLC has been (1) barred from working as a stockbroker or investment adviser representative (2) ordered to cease and desist from violating securities laws or regulations and (3) fined $20,000.00 based upon allegations that highly risky and speculative options transactions were mispresented by the stockbroker and failed to be suitable for the customer. Washington Securities Division Order No. S-17-2258-19-SC01 §-17-2258-19-FO01 (Apr. 11, 2019). The regulator alleged that Shaw’s conduct was violative of RCW 21.20.020.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Shaw is the subject of three customer initiated investment related disputes concerning accusations of his misconduct during the time that the stockbroker was employed by Purshe Kaplan Sterling Investments. In particular, a customer filed an investment related arbitration claim concerning Shaw’s activities where the customer sought $1,109,814.14 in damages founded on accusations that when Shaw was employed by Purshe Kaplan Sterling, misleading statements had been made in regard to options and a credit line, trades were unsuitable for the customer in view of the customer’s objectives for investing, Shaw’s activities were not adequately supervised by the securities broker dealer, and the customer’s account had been churned and exposed to fraudulent activities. FINRA Arbitration No. 16-03510 (Jan. 26, 2017).
Another customer filed an investment related arbitration claim pertaining to Shaw’s conduct in which the customer requested $7,500,000.00 in damages supported by allegations that when Shaw had been employed by Purshe Kaplan Sterling, the customer’s account had been mismanaged, options trades were effected excessively, and the customer was defrauded. FINRA Arbitration No. 17-01595 (June 21, 2017).
Shaw is additionally referenced in a customer initiated investment related arbitration claim where the customer requested unspecified damages based upon accusations that when Shaw was employed by Purshe Kaplan Sterling, fraudulent and manipulative actions were taken with the customer’s assets, transactions were unsuitable given the customer’s investment profile, and options transactions were facilitated in the customer’s account in an excessive manner. FINRA Arbitration No. 19-00519 (Mar. 4, 2019).
Shaw’s registration with Thomson Financial has been terminated as of February of 2016. He was registered with Purshe Kaplan Sterling between November 27, 2012 and December 31, 2016.
