Shahab Seyedshahab Tagnavidinani (also known as Shahab Dinani, Sean S. TagnaviDinani, and as Sean Tag), of Irvine, California, a stockbroker registered with Park Avenue Securities LLC, has been fined $5,000.00 and suspended for 45 days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because TagnaviDinani engaged in unauthorized trading. Letter of Acceptance, Waiver, and Consent No. 2022073991601 (May 2, 2023).
According to the AWC, on January 19, 2022, Park Avenue Securities submitted a Form U5 to FINRA regarding TagnaviDinani, stating that his association with the securities broker dealer was terminated due to his violation of firm policy. Park Avenue Securities claimed that he accepted trade instructions from an unauthorized party and engaged in trading activities after being aware of the account owner’s death.
The AWC stated that Customer A held a non-discretionary account at Park Avenue Securities, with TagnaviDinani serving as the customer’s stockbroker. The only individual authorized to approve transactions in the account was Customer A.
FINRA stated that Customer A passed away on January 17, 2021, a fact that TagnaviDinani became aware of the following day. Despite this, between January of 2021 and November of 2021, TagnaviDinani executed 48 unauthorized buy and sell orders in the account. TagnaviDinani engaged in discussions regarding some of these trades with surviving family members of Customer A; however, those family members had no trading authorization for the account. As a result of these unauthorized trades, TagnaviDinani received $1,998.77 in commissions.
Therefore, TagnaviDinani FINRA Rule 2010 for unauthorized trading.
TagnaviDinani’s registration with Park Avenue Securities LLC was terminated on January 19, 2022. TagnaviDinani has been registered with Sovereign Global Advisors LLC since February 28, 2022.
