Did you lose money investing with Imran Razvi (a/k/a Raz Razvi) (CRD# 3042006)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Imran Razvi (a/k/a Raz Razvi). If you suffered losses investing with Imran Razvi (a/k/a Raz Razvi), then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of June 20, 2020, Imran Razvi (a/k/a Raz Razvi)’s FINRA BrokerCheck Report contains the following:
SUSPENDED: FINRA has suspended this individual from acting as a broker. Please see the detailed report for more information.
Disclosure Events
2 Customer Dispute(s)
1 Regulatory Event(s)
2 Financial Disclosure(s)
UPDATE 6/20/2020: According to FINRA’s May 2020 Disciplinary Actions: Imran Nazir Razvi (CRD #3042006, Frederick, Maryland) March 5, 2020– An AWC was issued in which Razvi was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for six months. Without admitting or denying the findings, Razvi consented to the sanctions and to the entry of findings that he engaged in an outside business activity notwithstanding that his member firm denied his request to do so. The findings stated that Ravi sought approval to use a company he formed to refer investors to a purported real-estate investment fund. Ravi’s firm denied his request and notified him that he could not accept compensation or consideration for referrals to the fund. Contrary to that denial, the company’s agents referred investors to the fund and in exchange for these referrals, the agents received commissions. The commissions the agents earned were paid to the company. Razvi, through his ownership of the company, received a portion of those commissions. Later, the fund filed a voluntary Chapter 11 bankruptcy petition. The U.S. District Court for the Southern District of Florida issued final judgements against, among others, the fund and its former owner. Those judgments required the fund and its owner to, among other things, disgorge their ill-gotten gains and also required the owner to pay a civil penalty. The suspension is in effect from March 16, 2020, through September 15, 2020. (FINRA Case #2018058057401)
Current and Previous Registrations
04/04/2017 – 03/01/2018 LINCOLN FINANCIAL SECURITIES CORPORATION (CRD#:3870) FREDERICK, MD
06/06/2014 – 04/01/2016 THE O.N. EQUITY SALES COMPANY (CRD#:2936) Frederick, MD
12/09/2011 – 01/07/2014 PARK AVENUE SECURITIES LLC (CRD#:46173) BETHESDA, MD
07/18/2005 – 11/29/2011 NYLIFE SECURITIES LLC (CRD#:5167) BETHESDA, MD
07/29/1998 – 07/01/2005 MUTUAL OF OMAHA INVESTOR SERVICES, INC. (CRD#:611) OMAHA, NE
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Imran Razvi (a/k/a Raz Razvi) and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
