Altamonte Springs, Florida
The FINRA records of Charles C. Shafe, a stock broker who currently is employed by Transam Securities disclose 4 prior final customer disputes and a prior regulatory event.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
The prior customer disputes include:
- FINRA Case #12-2719 in which a customer of Transam Securities alleged damages of $400,000 and further alleged that Shafe recommended unsuitable investments resulting in the client potentially losing a significant portion of her retirement assets. The client also alleged that Shafe and Transam Securities conducted inadequate due diligence on the various investments and did not provide proper diversification for her interests. The subject investments included direct investments, limited partnerships, equipment leasing , real estate (REITs) and oil and gas investments. That case was settled for a total of $150,000. Shafe contributed $40,856 personally toward that settlement.
- FINRA Case #12-02851 in which a customer of Transam Securities alleged damages of $600,000 an further alleged that Shafe recommended unsuitable investments resulting in client potentially losing a significant portion of client’s assets. The subject investments included direct investments, limited partnerships, and oil and gas investments. That case was settled for $125,000 of which $37,500 was paid personally by Shafe.
Shafe has been registered with Transam Securities since 1/1991. Shafe was also registered with Maitland Securities from 10/2004-6/2013 and with The Shafe Group, Inc. from 9/1993-the present.
Alternative investments include non publicly traded real estate investment trusts (REITS) , equipment leasing, oil and gas investments, hedge funds, real estate, commodities and derivatives contracts and, managed futures. It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.
If you have losses in an account handled by Charles Shafe, call to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
Florida-561 391 1900