Seku N Shabazz (CRD #5988727) Has a Regulatory Event and Customer Dispute Disclosure on FINRA BrokerCheck

Seku N Shabazz (CRD #5988727) was previously registered as a broker and has disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 5, 2026. It reflects one regulatory event and one customer dispute. If you invested with Seku Shabazz and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

Seku Shabazz’s FINRA BrokerCheck report reflects one regulatory disclosure. A summary is below:

FINRA BrokerCheck states that Ohio initiated a regulatory action on December 29, 2025 and listed it as Pending. The report lists sanctions sought that include Cease and Desist, revocation, and suspension. It identifies the employing firm as CLE Retirement Planning DBA Great Lakes Retirement Planning (CRD #290434). It lists product types that include investment contracts, promissory notes, and real estate securities. The report states that the Division issued a Notice of Hearing. It states the Division sought to suspend or revoke Seku Shabazz’s license. It also sought to suspend or revoke his firm’s license after a July 2025 exam. It states he did not update his Form U4 regarding pending litigation and judgment liens. It also states he did not disclose outside business activities on Form U4 and made false representations to examiners. Source: Regulatory Action

Investor Disputes / Customer Complaints

Seku Shabazz’s FINRA BrokerCheck report reflects one customer dispute disclosure. A summary of the dispute is below:

On February 12, 2019, a customer alleged Seku Shabazz the customer was misled regarding the duration of premium payments. FINRA BrokerCheck lists the product type as insurance. The claim was settled on August 2, 2019 for $96,954.00. FINRA BrokerCheck reports no individual contribution amount.

Rule Summary #1: FINRA Rule 3270 (Outside Business Activities of Registered Persons)

FINRA Rule 3270 requires prior written notice to a firm before a registered person engages in outside business activities. When outside activities overlap with investment-related work, firms are expected to review and supervise the activity.

Rule Summary #2: FINRA Rule 1122 (Filing of Misleading Information as to Membership or Registration)

FINRA Rule 1122 prohibits filing membership or registration information that is incomplete or inaccurate in a misleading way. It also requires correcting a filing after notice that the information is misleading.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on His FINRA BrokerCheck report, Seku Shabazz:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Seku N Shabazz has passed Series 7 and Series 6. He has also passed Series 66.

Was previously registered with firms that include Pruco Securities, LLC, MML Investors Services, LLC, and Farmers Financial Solutions, LLC.

Kurta Law Can Help

If you have worked with Seku Shabazz and have concerns, Kurta Law may be able to help. It can help you evaluate your legal options. Call 877-600-0098 or email info@kurtalawfirm.com to speak with Kurta Law.

Helpful resources: Securities Attorney | Investment Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts. The attorney can also explain possible next steps.