Clayton Kwok Shum, of Burlingame, California, a stockbroker registered with Grove Point Investments LLC, has been discharged by the securities broker dealer on January 12, 2023, based upon allegations that Shum engaged in unapproved customer-related financing activities and did not report customer complaints.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also shows that Shum is also referenced in a customer initiated investment related NASD securities arbitration claim that was settled for $560,000.00 in damages based upon allegations that Shum misappropriated funds, committed fraud, and converted funds when Shum was associated with NYLife Securities Inc. NASD Arbitration No. 07-01000 (January 29, 2008).
Shum was associated with Grove Point Investments LLC as a stockbroker from December 1, 2020, to January 12, 2023, and associated with Grove Point Advisors LLC as an investment advisor representative from April 1, 2021, to January 12, 2023. He has been associated with Aegis Capital Corp. as both a stockbroker and investment advisor representative since February 13, 2023.
