Brian Keith Shey (also known as Brian Keith Palinkas), of Winter Park, Florida, a stockbroker registered with Green Vista Capital LLC, has been fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Shey failed to publicly disclose that he was charged with fraud. Letter of Acceptance, Waiver, and Consent No. 2022076673601 (November 3, 2023).
Shey was charged with submitting a false insurance application and a fraudulent insurance claim in Florida. Although these charges, required to be reported on his Form U4, were dismissed in July 2022, Shey became aware of them by August 2021 but failed to amend his Form U4 within 30 days or at any point during his time with Green Vista Capital LLC. Therefore, he violated FINRA By-Laws Article V Section 2(c) and Rules 1122 and 2010.
FINRA Public Disclosure additionally shows that on January 8, 2009, a customer complaint involving Shey’s conduct was settled to resolve allegations that Shey convinced a customer to switch life insurance policies without disclosing important information. The complaint alleged that Shey persuaded the customer to surrender an existing policy for a new policy without revealing higher premiums on the new policy. The customer was also concerned about the decreased cash value in the new policy. This issue occurred while Shey was associated with Omni Financial.
Shey is also referenced in a civil action where the plaintiff requested compensation based on allegations that Shey breached his fiduciary duties and misrepresented material facts. The allegations pertain to the sale of insurance products during Shey’s association with Sterling Wyatt PA from 2015 to 2018. Civil Action No. 2019-CA-83866699 (January 24, 2019)
Shey was associated with Green Vista Capital LLC in Winter Park, Florida, from February 5, 2021, to December 2, 2021; G. A. Repple Company in Newberry, Florida, from June 6, 2018, to December 31, 2020; and Cetera Advisor Networks LLC in Newberry, Florida, from June 28, 2013, to April 2, 2018.
