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Shawn Patrick Subject of FINRA Fine and Suspension for Alleged Customer Impersonation

Mar 28, 2022 FINRA Fine

Shawn Patrick (CRD #: 1419385), a broker and investment advisor registered with TransAmerica Financial Advisors, is the subject of a FINRA suspension and fine, according to his BrokerCheck record accessed on March 19, 2022. 

FINRA Suspension 

According to an Acceptance, Waiver, and Consent agreement dated January 4, 2022, Shawn Patrick consented to the findings that he allegedly impersonated four customers on telephone calls to a third-party firm that administered their 401(k) plans. The findings state that during those phone calls, he posed as the customers and made changes to the customers' accounts. 

FINRA Rule 2010

FINRA Rule 2010 requires members and associated persons to "observe high standards of commercial honor and just and equitable principles of trade" in the conduct of their business. Impersonating a customer is inconsistent with this standard. 

Sanctions

As part of the terms of the AWC, Shawn Patrick consented to:

  • A 10-day suspension 
  • A $5,000 fine

You can read a copy of the AWC here.

Background Information

Shawn Patrick has passed the following exams:

  • Series 65 - Uniform Investment Adviser Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination
  • Series 26 - Investment Company Products/Variable Contracts Principal Examination

Shawn Patrick is a registered broker in ten states. He is also a registered investment advisor in Texas, Ohio, and North Carolina.

Besides TransAmerica Financial Advisors, Shawn Patrick has also worked with the following firms:

  • Investment Advisors International (CRD#:139233)
  • World Group Securities (CRD#:114473)
  • WMA Securities (CRD#:32625)
  • PFS Investments (CRD#:10111)

Kurta Law Can Help

If you have worked with Shawn Patrick and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors 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.