Avinesh K. Shankar (CRD #6232970) Has Customer Dispute, Employment Separation, and Investigation Disclosures on FINRA BrokerCheck
Avinesh K. Shankar (CRD #6232970) has been the subject of disclosure events, which have recently been reported on his FINRA BrokerCheck Report. According to Avinesh K. Shankar’s FINRA BrokerCheck report accessed on January 24, 2026, Avinesh K. Shankar has been the subject of two customer disputes, one employment separation, and one investigation. If you invested with Avinesh K. Shankar and you have concerns about his activity, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Investor Disputes / Customer Complaints
Avinesh Shankar’s FINRA BrokerCheck Report reflects two customer dispute disclosures. Summaries of the disputes are below:
On December 5, 2016, a customer alleged that Avinesh Shankar did not correctly disclose the term of a third-party equity-linked certificate of deposit purchased in July 2016, and that the value of the CD would fluctuate. The disclosure lists the product type as a CD and identifies BBVA Securities Inc. as the employing firm at the time. The alleged damages are $5,000.00, and the disclosure reflects the matter was settled on December 16, 2016 for $17,850.00.
On January 5, 2015, a customer alleged that Avinesh Shankar sold a market-linked certificate of deposit issued by an affiliate bank in April 2014 that was not suitable due to the customer’s age, and the disclosure also references service-related issues. The disclosure lists the product type as a CD and identifies BBVA Securities Inc. as the employing firm at the time. The alleged damages are $10,000.00, and the disclosure reflects the matter was settled on January 16, 2015 with a settlement amount of $0.00. The disclosure includes a broker statement from Avinesh Shankar stating that there was no monetary settlement and that the CD was redeemed without penalty to the customer.
Employment Separation
Avinesh Shankar’s FINRA BrokerCheck Report reflects one employment separation disclosure. A summary of the disclosure is below:
The disclosure states that on February 20, 2024, Pruco Securities, LLC discharged Avinesh Shankar. The allegations state that he submitted numerous annuity applications containing inaccurate information and non-genuine electronic customer signatures for over 30 different customers, which allegedly resulted in commissions that were later recaptured by the firm on multiple occasions. Avinesh Shankar provided a broker comment stating that no client funds were taken without the clients’ consent or awareness, that the applications were submitted to secure rates, and that advanced commissions were reversed when clients chose not to proceed; he also stated that he has been repaying the outstanding advanced commissions and that a payment plan was arranged.
Investigation
Avinesh Shankar’s FINRA BrokerCheck Report reflects one pending investigation disclosure initiated by FINRA. A summary of the disclosure is below:
According to the disclosure, on November 12, 2025, FINRA made a preliminary determination that formal disciplinary actions should be brought against Avinesh Shankar. The disclosure alleges violations of FINRA Rule 2010 involving conversion and forgery of customer signatures, and violations of FINRA Rules 4511 and 2010 involving causing a member firm’s books and records to be inaccurate.
Rule summary #1: FINRA Rule 4511 (General Requirements)
FINRA Rule 4511 (General Requirements) requires member firms to make and preserve books and records as required under FINRA rules, the Exchange Act, and applicable Exchange Act rules.
Rule summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)
FINRA Rule 2010 is a broad, principles-based rule requiring members and associated persons to observe high standards of commercial honor and just and equitable principles of trade. FINRA frequently cites Rule 2010 in matters involving unethical conduct.
Why this Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.
Reg BI is built around four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
- Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
- Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
- Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.
Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.
Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on his BrokerCheck Report, Avinesh Shankar:
- Is not currently registered.
- Was previously registered with firms that include Pruco Securities, LLC and BBVA Securities Inc.
- Has passed the Securities Industry Essentials (SIE), Series 7, Series 6, Series 65, and Series 63 exams.
Kurta Law Can Help
If you have worked with Avinesh Shankar and you have concerns about his activity, Kurta Law may be able to help you evaluate potential recovery options. You may be entitled to pursue a claim through FINRA arbitration, depending on the facts of your situation and the investments involved. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
Helpful resources: Stockbroker Forgery | Stockbroker Theft
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