Sanjay Bhargava Suspended by FINRA
Sanjay Bhargava (CRD #: 4495397), a broker registered with Regulus Financial Group, was suspended by FINRA, according to his BrokerCheck record, accessed on July 10, 2022. If you want to know more about Sanjay Bhargava’s conduct as a broker, read on.
Regulatory Action by State of Maryland
On June 28, 2022, the state of Maryland withdrew Sanjay Bhargava’s registration and censured him following his FINRA suspension.
FINRA Suspension
On May 13, 2022, Sanjay Bhargava consented to the entry of findings that he allegedly participated in a private securities transaction without notifying his firm, Securities America, in November and December 2018.
According to a letter of Acceptance, Waiver & Consent (AWC), in November 2018, an unnamed broker at Securities America (Broker 1) established an LLC to pool investment funds with the ultimate goal of investing in a private placement offering issued by the undisclosed Company A. Company A allegedly specialized in preserving and operating historic real estate, and their offering related to a hotel in Salt Lake City, Utah, and offered possible tax credits to qualifying investors.
Also in November 2018, Sanjay Bhargava allegedly communicated with Company A and various individuals regarding the offering and Broker 1’s LLC. On November 23, 2018, Sanjay Bhargava allegedly forwarded offering documents for the LLC to six individuals, none of whom were clients of Securities America, who ultimately invested $341,250 in the LLC.
On December 9, 2018, Sanjay Bhargava allegedly completed annual compliance attestations at Securities America which falsely claimed that he did not engage in any private securities transactions since his last attestation.
The AWC concludes that these allegations constitute violations of FINRA Rules 3280 and 2010.
FINRA Rules 3280 and 2010
FINRA Rule 3280 requires brokers to disclose any private securities transactions they participate in and receive approval from their firm.
Violations of many rules qualify as violations of FINRA Rule 2010, which holds brokers to high standards of commercial honor and just and equitable principles of trade.
Sanctions
Sanjay Bhargava consented to the following sanctions:
- $5,000 fine
- Three-month suspension
His suspension began on June 6, 2022, and will end on September 5, 2022.
You can read a copy of the AWC here.
Resignation from Securities America
On April 13, 2020, Sanjay Bhargava was permitted to resign from Securities America after allegedly assisting an unrelated CPA firm in the promotion of a seminar not approved by Securities America. This seminar allegedly concerned historic preservation tax credits and was allegedly held in the office of an unrelated third party. Sanjay Bhargava allegedly did not receive any compensation for his role in the seminar.
Background Information
Sanjay Bhargava has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Sanjay Bhargava is a registered broker and a registered investment adviser in Ohio.
He has also worked for the following firms:
- Arbor Point Advisors (CRD#:165127)
- Securities America (CRD#:10205)
- JK Investment Group (CRD#:156406)
- Securities America Advisors (CRD#:110518)
- QA3 Financial Corporation (CRD#:14754)
- QA3 Financial (CRD#:104957)
- C. J. M. Planning Corporation (CRD#:5698)
Kurta Law Can Help
If you worked with Sanjay Bhargava and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.
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