UPDATE APRIL 2017
In March 2017, Naveed A. Khan was permanently barred by the SEC.
ORIGINAL POST -May 2016-Staten Island
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.
According to FINRA records, Naveed A. Khan discloses:
- A pending criminal charge for Conspiracy to Commit Securities Fraud, Securities Fraud, Money Laundering Conspiracy and Conspiracy to Commit Wire Fraud. See this release dated May 3, 2016 from the US Attorney’s office for Eastern District of New York.
- 1 pending civil event-See this SEC Litigation Release announcing fraud charges against Khan.
- Two prior settled customer complaints including FINRA Case 11-0192 brought by a customer while Khan was registered with Meyers Associates. That customer alleged damages of $200,000 for churning, improper use of margin and unsuitable investments. The case was settled for $75,000.
According to FINRA records, Khan was registered with Meyers Associates from 4/2013-5/2016. Prior to that he was registered with Obsidian Financial 1/2011-6/2013.
If you have questions about an account handled byNaveed A. Khan also known as “Nick Khan” contact us to discuss your options and 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.
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