APRIL 2018 UPDATE-As of April 2018, Shawn Burn’s FINRA record discloses a final regulatory event, 20 prior and one pending customer disputes, 2 terminations from employment, a chapter 7 bankruptcy and 6 outstanding judgement liens, most of which relate to state and federal tax debts. Burns is not currently registered as a stockbroker. His last job in the industry was with Salomon Whitney Financial. He left Salomon Whitney in 5/2016.
April 11, 2016-Holbrook, New York
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.
FINRA records are public and can be accessed on the BrokerCheck website.
The FINRA records of Shawn E. Burns, a stock broker who works for Salomon Whitney Financial, report that he is currently named in 4 pending arbitrations and has resolved 10 other arbitrations. The pending arbitrations include:
FINRA Case 15-00107– customer alleges that Burns used high pressure tactics to purchase securities and/or equities from February 2012-August 2012. Damages are alleged to be $75,000.
FINRA Case 14-02953- customer alleges that Burns practiced high pressure sales , churned his account and recommended unsuitable trades. Damages of $130,000 are alleged.
Burns has previously been employed by Cape Securities , First Midwest Securities and Murphy & Durieu. He was discharged from Murphy & Durieu in 2002 for alleged unauthorized trading in a customer account.
FINRA records report that Burns filed for Chapter 7 bankruptcy in February 2016.
If you have losses in an account handled by Shawn E. Burns you may be able to recover damages from his employer. Call for a no charge consultation to learn about your options.
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.
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