Shoaib Qureshi Allegedly Failed to Respond to FINRA Requests for Information

Shoaib Qureshi (CRD #: 6760158) has been suspended by FINRA. This is according to his BrokerCheck record, accessed on June 3, 2024. Keep reading if you have questions regarding his alleged conduct. 

Regulatory Action 

On March 26, 2024, Shoaib Qureshi received a letter of suspension from FINRA that alleged he had failed to respond to FINRA requests for information. The suspension will continue until the required information is provided to FINRA or the suspension converts to a bar. 

FINRA Rule 8210

FINRA Rule 8210 requires members to submit their books and records for inspection and to appear for testimony in connection with FINRA investigations.

Employment Separation After Allegations 

On November 1, 2023, JP Morgan Chase Bank fired Shoaib Qureshi following allegations that he made purchases on a customer’s credit card for his personal use without the customer’s consent, and omitted those transactions from reports provided to the customer’s accountant. 

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Using a customer’s credit card without their consent would violate this rule. 

Background Information 

Shoaib Qureshi has passed the following exams: 

• Series 66 Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination
• Series 3 National Commodity Futures Examination  
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 

During his six years of experience, Shoaib Qureshi has registered with the following firms: 

• JP Morgan Securities (CRD #: 79) 
• First Republic Securities Company (CRD #: 105108) 
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 

Kurta Law Can Help 

If you have worked with Shoaib Qureshi and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 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. Do not let securities fraud go unchecked. Start your recovery process today.