Imtiaz A. Khan (also known as Raana Khan) of New York New York a stockbroker formerly registered with Windsor Street Capital LP is the subject of a customer initiated investment related arbitration claim which was settled for $28,400.00 in damages supported by accusations including the breach of a contract between the customer and Windsor Street Capital and the breach of a fiduciary duty which was owed to the customer as it pertained to private placement stock transactions. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01731 (Dec. 16, 2019).
According to the claim, misrepresentations had been fraudulently made to the customer in reference to the stock transactions. The customer had allegedly been placed into aggressive investments that were unsuitable given the customer’s risk tolerance. The claim also alleges that the customer had been overcharged by the stockbroker and that his negligence caused the customer’s losses.
FINRA Public Disclosure additionally confirms that Khan has been fined $20,000.00 and suspended from associating with any FINRA member in any capacity based upon a FINRA Office of Hearing Officers’ Decision and Order of Offer of Settlement containing findings that Khan participated in an outside business called Arcis Capital Partners LLC who was involved in advising its customers on real estate transactions along with mergers and acquisitions. Department of Enforcement v. Imtiaz Khan Disciplinary Proceeding No. 2016048912703 (Jan. 28, 2019).
According to the Decision, Khan had been granted a five percent ownership interest in Arcis Capital Partners as well as some of the advisory’s profits according to Arcis’ operating agreement. The regulator indicated that Khan helped form the company and had fostered client relationships.
FINRA also stated that Khan was not registered as a supervisory principal at the time that he engaged in the management of securities and banking business at Windsor Street. Khan’s actions in this respect were violative of FINRA Rules 2010 and 3270.
