Shawn Clark is Facing a $100,000 Investor Dispute
Shawn Clark (CRD #: 6723045), a previously registered broker with Kalos Capital, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on November 6, 2023. Details of this dispute are provided below.
On August 14, 2023, an investor alleged Shawn Clark recommended an unsuitable investment. The investor is seeking $100,000.
What is an Unsuitable Investment?
FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. These profiles contain information such as investors’ age, risk tolerance, and investing experience
- Investments can be unsuitable because they are high-risk and likely to lose money.
- Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
- Securities can be quantitatively unsuitable, which means that brokers execute an excessive number of trades.
These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.
Shawn Clark has passed the following exams:
- Series 66 Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He has registered as a broker with two firms: Kalos Capital (CRD #: 44337) and Center Street Securities (CRD #: 26898).
Kurta Law Can Help
If you worked with Shawn Clark and have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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 that 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.