Shanon Gut (CRD #5114104) Was Disciplined by FINRA
Shanon Gut (CRD #5114104) has been the subject of regulatory disclosures reported on FINRA BrokerCheck. If you have worked with Shanon Gut and you have concerns about her activity, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Regulatory action (FINRA)
According to Shanon Gut’s FINRA BrokerCheck report, her record reflects two regulatory events. These include (1) a FINRA action resolved by an Acceptance, Waiver & Consent (AWC), and (2) a New York State Department of Financial Services (DFS) action resolved by stipulation and consent.
AWC link: FINRA AWC
Shanon Gut’s FINRA BrokerCheck report reflects that she consented to findings that she certified to the State of New York that she had personally completed 18 hours of continuing education required to renew her state insurance license, when another person completed that continuing education on her behalf. FINRA reported a $5,000 fine and a one-month suspension in all capacities from September 16, 2024 through October 15, 2024.
Shanon Gut’s FINRA BrokerCheck report also reflects a New York State Department of Financial Services action. According to the report, the allegation was that she certified and submitted a renewal application that contained false and/or inaccurate information regarding the completion of fifteen hours of continuing education, when she had not taken the required courses. The report reflects a $7,500 civil and administrative fine.
Rule summary #1: FINRA Rule 1240 (Continuing Education)
FINRA Rule 1240 prescribes requirements regarding the continuing education of registered persons, including the Regulatory Element and Firm Element.
Rule summary #2: FINRA Rule 2010
FINRA Rule 2010 is a broad, principles-based rule requiring high standards of commercial honor and just and equitable principles of trade.
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 her BrokerCheck Report, Shanon Gut reportedly:
Is currently registered through PFS Investments Inc.
Is currently registered with 1 self-regulatory organization and is licensed in 7 U.S. states and territories through her employer.
Has passed the SIE, Series 6, and Series 63 exams.
Kurta Law Can Help
If you have worked with Shanon Gut and you have concerns about her conduct, you may have options. Kurta Law has represented investors for nearly 20 years and focuses on holding brokerage firms and financial professionals accountable. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
Helpful resources: Misrepresentation and Omission | What is Securities Fraud?
For nearly 20 years, Kurta Law has advocated for investors and helped them pursue financial recovery through FINRA arbitration and other claims. If you believe you were harmed by broker misconduct, do not let potential securities fraud go unchecked. Start your recovery process today.