- May 24, 2022
- Securities America
Sanjay Bhargava (CRD: 4495397) is a dually registered Broker and Investment advisor at Regulus Financial Group, LLC in Independence, OH.
He entered the securities industry in 2003 and previously worked for Arbor Point Advisors; Securities America, Inc.; JK Investment Group, Inc.; Securities America Advisors, Inc.; QA3 Financial Corp.; QA3 Financial, LLC; and C. J. M. Planning Corp.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in April 2020, Sanjay Bhargava was permitted to resign from Securities America, Inc. following allegations The allegation states, “Representative assisted in the promotion, jointly with an unrelated CPA firm, of a seminar not approved by the firm concerning historic preservation tax credits, which seminar was held in the office of an unrelated third party. As of the date of this filing on May 13, 2020, no customers have made a complaint, and representative received no compensation for his activities.”
In addition, Sanjay Bhargava has been the subject of one customer complaints, including the following:
- May 2014 — “Unsuitable investments; violations of FINRA Conduct Rules and NYSE Rules; misrepresentations and omissions under the Ohio Securities Act and Regulations thereunder; breach of fiduciary duty and constructive fraud; breach of contract.” The customer dispute was resolved through arbitration.
For a copy of Sanjay Bhargava’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.
Quantitative suitability requires a brokerage firm or financial advisor with actual or de facto control over a customer’s account to have a reasonable basis for believing that a series of recommended transactions – even if suitable when viewed in isolation – is not excessive and unsuitable for the customer when taken together in light of the customer’s investment profile. No single test defines excessive activity, but factors such as the turnover rate, the cost-equity ratio, and the use of in-and-out trading in a customer’s account may provide a basis for a finding that a member or associated person has violated the quantitative suitability obligation.
Customer-specific suitability requires that a member or associated person have a reasonable basis to believe that the recommendation is suitable for a particular customer based on that customer’s investment profile. Among the criteria that a financial advisor must evaluate to satisfy his or her customer-specific suitability obligations include the investor’s age, tax status, time horizon, liquidity needs, and risk tolerance; a client’s other investments, financial situation and needs, investment objectives, and any other information disclosed by the customer should also be considered.
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